The ten year popped to 2.75%, that was unsustainable and Treasury prefers the inverted curve. We are not out of the woods, we are facing a global recession. Chinese autos are in contraction with three major factories shut. Housing in China is taking a bit of a dump. Italy, Germany in recession, France in rebellion of interest charges.
Under the circumstances, the ten year is not reaching 3.0% except just prior to m contractions. So foreign exporters to the USA cannot really afford the foreign exchange risk with the ten year so low. Hence, trade collapse, global recession.
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