The US Treasury Yield Curve Slope (10Y-2Y) just broke through 80 basis points on the downside.
The balance between QE and Treasury supply will begin to shift in July. The underlying bid it has provided for stocks and Treasuries will begin to fade.
This report tells why, and what to look for in the data and the markets. GO TO THE POST
Yes, the thrill experienced about a Trump Presidency and the repeal of Obamacare, deregulation, securing the US border with Mexico and lowering taxes has beaten down by Congress and entrenched Federal bureaucrats (what the Russian termed “apparatchiks” – full-time, professional functionaries of the Communist Party of the Soviet Union or the Soviet government apparatus).
To quote blues musician B.B. King, “The Thrill Is Gone” in the Treasury market.
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