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

Supply Shock

CHAPTER

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.

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