Sometimes, It Is All About the Flow
SWBC's LenderHub
JULY 13, 2021
A funny thing happened on the way to the great reflation trade that, just a few weeks ago, was the dominant market theme. The reflation trade was supposed to get out in front of strong inflationary pressures as well as the sooner-than-expected withdrawal of some of the Fed’s extraordinary monetary policy support. The yield curve was supposed to steepen, with long-term rates like the 10-year Treasury note going through two percent for the first time since early 2019.
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