The Re-Steeping of the Yield Curve

The yield curve went from flat 111 basis points inverted to about 38 back to 104 down to about 83 or so. As we're sitting here, it's either side of a hundred base points, maybe even worse. But right now the bond market doesn't know what it wants to do. We're at stall speed. Who's to say that it can't re-steepen in the fall if growth really falls off? And that's what I suspect.

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