What's Going On?!

Woah.

I thought yields were meant to be at like 3% by now?!

I thought we were meant to be praising the bond vigilantes for being right?

I thought that we were meant to see a treasury yield curve steeper than Everest?!

Clearly not.

I'm going to outline why I think we are in this current regime (nothing has changed, by the way) and where we're headed next, since I think it's pretty important to highlight for future reference.

Where have we come from?

Let's go back to the start of the year.

I'd sent you these two articles, outlining

David Belle

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