Bad Moon Rising
MRKT Matrix
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Is the 10-Year Yield Going Down Really Bullish?
The 10-year yield has dropped 50 something basis points since March 8th. This is not a time that you can say, okay, yields were too high, they're coming back down and now that's good. There hasn't been definitive evidence of an economic downturn in a point where the government are backstopping this because we're still in a recession. If the Fed starts cutting rates, that's when the recession is happening? Even if they're backstopping it, this is a time where I thinkwe're transitioning into bad news as well.
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