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We need to talk about curve inversions (plural) going nuclear.

Eurodollar University

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Eurodollar University - It's Bananas

We've seen any number of soft surveys PMIs, whether it be the Dallas Feds, PMI, or S&P Global. The first three in particular suggest that the US services economy is struggling mightily. We have these markets screaming at the top of their long things are going to cause interest rates to go down. It's up to us to fill in the blanks because as we saw in July 1981 or in October 2007, Federal Reserve officials are not going to be able to do it.

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