Does at some point, a condition exist where Russian forces might sue for peace with their Ukrainian neighbors? At what point does the Federal Reserve Bank cool its aggressive 2022 stance on monetary policy? The spread between the yields of the US Two-Year Note and US Ten-Year Note inverted briefly last March and has remained inverted since early July. The yield spread between the US Three-Month T-Bill and Ten-Year Note, which is the most important spread in our economic universe, has been invented since October. Equities rallied as the US Ten-Year Note finally got back in the win column after a three-day beat-down.

Source: Daily Nation December 31, 2022 00:48 UTC