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Jurrien Timmer: The Trade For A 2023 Recession

The Macro Trading Floor

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The Best Risk Reward in the Macro Space

The yield curve is now very significantly inverted I think it's at the 99th percentile of how inverted it ever gets twos the 30s Uh, the most inverted since 1981 Um, and so buying the long end, um, I think is still A good idea. It's still interesting But it's not as interesting as buying bonds and having a curve steepener at the same time Meaning you you concentrate the buying on the belly of the curve right? Four years five years seven years because that's pricing in a peak fed now or getting close to it And and I think that's where a lot of the value is.

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