This chart comes after a conversation with Citi... only 4 times in the past 30 years has the US 2's vs 5's curve inverted whilst being in an upward moving yield environment, via Fed QT. We know from history a few lessons; (1) Every other time this happened it ended badly for the global economy. (2) A Fed that lags will only add fuel to the flames .. "it's...
Oppression will continue, eventually this let will continue down towards 1.423%; the target for wave 3. We would have to break higher than 2.02% to question whether the nature of this downside move remains intact. There is a lot of support as we widely tracked here in advance. The bounce over the past few weeks is a corrective process that should not exceed the...
On the technical side the minimum targets for a Vth wave flattening trend that started since 2011 have been met. This completed sequence show's there is plenty of room to steepen over the coming Quarters. So far we have seen wave A and B of an incomplete ABC. Well done all those who are riding the 'C' leg with us. Best of luck to those who are positioned for...