Is There a Soft Landing in the Yield Curve?

If you just take the payroll report at its face value, and we go back to several meetings and listen to what Powell has been saying, there's no question that things are not getting better. There's no sign in any of the curves that say, hey, you know what, maybe this is actually the bottom here or something better coming. They're all saying the same thing: Doom is coming and get ready for it. So if we were looking at the difference between recession and soft landing, the difference is right in front of us in the near-term forward spread," he said.

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