China didn't jump the ten year yield
That was Janet and Ned. Janet quit buying the short end and Ned had hurricane bills. The one year jump 9 basis points, and that rolled up to the ten year a week later. Most of the unexpected was hurricane which came it at a total 300 billion loss, remember? It is not a coincidence that we got the total charge and reset the curve, at the same time. We all knew the hurricanes were being counted.
No comments:
Post a Comment