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“That’s Not Supposed To Happen” – Yield Curve Slumps To Flattest In 9 Months
Thursday, December 17, 2015 10:12
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The Fed hiked… and the Treasury market threw up all over it, flattening the curve over 10bps in the last 16 hours (to 9 month lows). The reaction screams “policy error” as rate cut odds for January remain above rate-hike odds. Financials – who will benefit greatly from this rate hike if all the talking heads are to be believed – appears not to have got the flattening curve joke yet.
Not exactly an overwhelming vote of confidence!!!
Smashing 2s30s back below 200bps to 9-month lows…
Financials remain bid (just like they were in August…)
It’s different this time.
Charts: Bloomberg
Source: http://silveristhenew.com/2015/12/17/thats-not-supposed-to-happen-yield-curve-slumps-to-flattest-in-9-months/
