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The Fed's New Priority on Rates
When the yield curve inverts that is a signal to you and me that the Fed's gone too far with the rate hikes They've pushed up short rates too much above long rates. Something's broken now may not be obvious but soon thereafter it will be markets plunge economy goes into recession or some dramatically slows downsomething like the repo market or the plumbing of the financial system breaks. And I suspect what you're going to see with this new priority is that's going to be aggressive on raising rates The long end will trade sideways, which is what it typically does. Yeah, it might breach 2% Might go as high as two and a quarter maybe but it isn't going to three. That