1/3)
At some as yet unknown level the bear steepening curve is going to spook equity investors and reverse the course of the USD. Until then the Fed is quite happy to see long end rates back up. What that ...
2/3) magic level in the 10Y is anyone's guess given nominally ...1% is still quite low, given the prospects of a TGA flush i.e. fiscal stimulus in the offing. However, given ...
3/3) the debt levels once the 10Y reaches the magic number equity investors are likely to start panicking. That is when YCC will be back on the FOMC table IMHO. https://twitter.com/BittelJulien/status/1334802572125810688?s=20
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