Somber economic realities

You can't make this up:

Bonds are falling like the "Fed pivot" is cancelled and the yield curve just turned NEGATIVE again.

The last time the yield curve was negative was the day of the Fed's 50 basis point interest rate cut.

What just happened to the "Fed pivot?"

(a thread)

— The Kobeissi Letter (@KobeissiLetter) October 7, 2024