Ironically, after having lamented the flattening yield curve for a year, soothsayers now lament the steepening curve.
The “up to” begins to matter for the first time.
“But we’re a long way from neutral at this point.”
Treasury yield curve survives rate hike upright. Yield curves steepen in China, Japan & Germany. Era of NIRP scheduled to end.
The US is “on an unsustainable fiscal path, there’s no hiding from it.”
5% is here, 6% beckons as the next target.
All bull markets come to an end, even the 35-year Great Bond Bull Market.
Nightmare scenario for the markets? They just shrugged. But homebuyers haven’t done the math yet.
China, Japan, other foreign investors, the Fed, US government funds? Nope.
A distant possibility in early 2018 is making its way to reality.