6min chapter

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PIMCO’s Cash King On Liquidity, Repo, Debt Ceiling, And Yield Curve Inversion | Jerome Schneider

Forward Guidance

CHAPTER

The Risk-Free Curve Predates a Recession

Jerome, I wanna compare your world on March 9th, the day before Silicon Valley, failed to your world now. The short-term yield curve all the way up from one day to one year to maybe five years. How do you interpret that move? You know, can it attribute, oh, this is a bid for safety? And then later, I wanna ask you about the credit risk,. But let's just start on the treasury yield curve and perhaps we can put a chart up that I'll make later just comparing those two curves. It's quite noticeable.

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