The Treasury curve is sloping upward

Take a look.

It is the curve of a mining economy, everything from 0 to five years is within a few basis points.

But at least it sends the map (adds enough stress to trigger the shorts). The map is telling us to give up manufacturing,manufacturing is impossible in the current political climate. If we are to survive the 100 yeas of deflation we will need to be mostly digging in the ground.

Sending the map is sandbox theory. Odd how sandbox theory explains so much of the economy. Sandbox has no priors.