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The Great Liquidity Debate | Michael Howell & Andy Constan
Forward Guidance
The Short, Short Twos and Spoos Trade
The two-year note is selling off significantly today, the day after the Fed Chair Powell raised rates. The economy is a lot less interest rate sensitive than it was and demographics mean that there's not a big constituency for buying consumer durables on credit. I don't think the economy is going down anything like as severely as people would say. And if you're getting a soft landing or even no landing in the economy, why should rates be slashed? You know, this is I think a key reason.
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