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Is the CPI Going to Come in Hot?
If inflation continues to come in hot, the short end of the yield curve will keep going up. Two year yields are sitting at 3.2 percent for the two year, right? If it comes in hot, I think it'll... And it's going to go up to like 3.6 percent. But it's still going to be distorted and it's still saying a recession is coming. It's just saying the Fed needs to keep tightening for longer.
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