Well, the knock down in the 30yr-5yr yield spread did not last long. While it has not done anything it didn’t already do before ultimately failing in October and January, it bears watching.
The nominal 10yr is down…
And the nominal 2yr is down by more…
So this spread is rising from yesterday’s close per the following…
This is stuff you won’t find on Bubble Vision or maybe in your CFA’s monthly report. But it is only critical to most markets. The state of nominal yields dropping while curves rise would be a tail wind for gold, and for the stock market? Not so much. Yet neither of these mostly opposed asset classes have reacted yet. That is because… this:
Major trends have not changed yet. Patience my friends.
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