“Both Cannot Be Right” – The Yield Curve’s Ominous Message: Something Is Very Broken
zerohedge.com / by Tyler Durden / Oct 29, 2017 3:28 PM
Two weeks ago, Deutsche Bank’s credit analyst Aleksandar Kocic explained that with the yield curve becoming increasingly flatter, the Fed has roughly two more rate hikes left before it loses control as the curve first flattens completely and eventually inverts, a precursor to virtually every historical recession. As the DB strategist explained, given where long rates are the “Fed appears overly hawkish – it has only two more hikes to go and, for volatility and risk premia to reprice higher, the gap has to widen. As it appears unlikely that the Fed will be cutting rates any time soon, the gap could widen only if the Long rates sell off.”
The problem – as observed here virtually every day for the past year – is that long rates have refused to sell off, and while they did move modestly higher last week in the US, other developed nations have seen even more flattening to compensate for the move in the US.
The post “Both Cannot Be Right” – The Yield Curve’s Ominous Message: Something Is Very Broken appeared first on Silver For The People.
Source: http://silveristhenew.com/2017/10/29/both-cannot-be-right-the-yield-curves-ominous-message-something-is-very-broken/
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