More on the steepening yield curve and deteriorating credit conditions

I want to talk a little about price action in asset markets this week. But, since I am on holiday, I am going to keep this short. Most of the focus has been on equities, where volatility has increased. But I am looking at this as more of a rotation from an under-weight Treasuries position than one of impending recession or financial crisis.

Focus on Trea…

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