Is the Yield Curve the Easy Cause of Carry Trade?

The one single most important thing for everybody else is what happens to the yield curve. Right now, and this is a rare thing in history, the flattener is the easy cause of carry trade for all of us bond investors. We do know what you're saying now is when and if we get on that black run and we get to inflation is more towards where the feds 2% target is. 4% trade tenure treasuries isn't the meal. You may be 100 basis points in real. So 2% inflation was 100. That's three is the 10 year yield. And so in that world, when that is about to happen, all of us investors are going to have to