The Treasury Market Acts Like the Economy is in a Death Spiral, But Wait…

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Wolf Richter,

In the past, the Treasury market was terribly wrong about this. In these instances, the 10-year yield had no predictive quality. It was just a stupid move by the market that then self-corrected brutally. The last such idiocy happened in 2016. The good folks who made that move are still ruing the day (13 minutes).




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