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Michael Kao on November Fed Meeting, Treasury Refunding, & Bond Market Bear Steepening

Supply Shock

00:00

Comparing recent bear steepening to the 79-82 sequence and discussing the wage price spiral

The speaker discusses a pinned thread comparing recent bear steepening to the 79-82 sequence and explains why they decided not to own duration in any asset class. They critique Jay Powell's approach and express concerns about spreading strikes and the wage price spiral.

Play episode from 08:35
Transcript

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