The 10Y–2Y curve is accelerating. The bond market is pricing stress that stocks haven’t acknowledged yet. $DXY should bounce hard from here. Carry trades can unwind quickly.
The 10Y–2Y curve is accelerating. Post-inversion steepening just printed new cycle highs around +0.74. That move didn’t come from falling short rates. It came from long rates staying sticky while growth expectations roll. This is late-cycle behavior. Equities celebrating ATHs… …