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My Conversation With Mr. Bond

Hello Mr. Bond. You just cannot seem to stay away from 2.0%.

We missed you. Welcome back. Will this be a longer visit? Are you calling for a recession?

Unfortunately, Mr. Bond did not answer. He just winked.

Yield Curve Inversions

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Treasury Curve Details

  1. There is now a solid wall of inversions. Every Treasury Note and bill from three-year down is inverted with the next lower duration.
  2. The 10-year yield is inverted with 6-month and shorter durations.
  3. The 30-year long bond dipped below 2.0% for the third time and is just 6 basis points from a record low.

Bond yields at the long end fell substantially today as Equities Hammered in Coronavirus Bull Trap Sea of Red.

Mike "Mish" Shedlock