<<Not to be cheeky but someone is always worried about something and someone is always happy about something.>> You are no more cheeky than I was snide when I chose to utilize that final sentence, the one you quoted. Of course some people are going to be happy no matter what is happening in any market. Yours was a great post, stating the salient point, the "unnaturalness" of a flat curve, right at the start. What was obvious, and through which I was looking, was the fact that, despite the logic of numbers, the recent run-up (what was it, 12, 13 basis points?) did not really represent a qualitative shift from inversion to flatness, but rather a quantitative jump within a flattened curve. A little research--which I finally bothered to do--revealed that this inversion was (is?) still of very short duration, far less deep (steep?) than those of the past, and, perhaps the most important comparison, when Core CPI is subtracted from the Fed Funds Rate we see by far the lowest number of all the recent inversions and near-inversions. Thank you again.
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