This is a syndicated repost published with the permission of Snake Hole Lounge. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.
The US Treasury Yield Curve Slope (10Y-2Y) just broke through 80 basis points on the downside.
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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