MacroVoices #354 Jim Bianco: CPI, FOMC, China & More
Macro Voices
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The Two-Year Note Yield, I'm Going to Verge This for a Second
The two-year note yield, I'm going to verge this for a second to the short end. Every rate hike cycle, the high in the two-year yield is above the eventual terminal rate. If we're going to go to 475 to 5 or 5 to 5 and a quarter, this would be the first rate hike cycle that the two- year yield ended below the terminal rate. And it seems to me like there's potentially a domino effect there where if they can't afford to roll their debt forward, those companies are at risk.
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