More On Worst Bond Bubble Burst Since 1949! US Yield Curve Inverts To Lowest Since 2000 (US Mortgage Rate Climbs To 6.59%, UP 129% Under Biden)

by confoundedinterest17

And I thought Washington Commanders QB Carson Wentz was bad to be sacked nine times in a game against his old team!

Let’s kick off the week with another episode of “The Worst Bond Bubble Since 1949.” This time, the 10-2 year US Treasury yield curve has inverted to its lowest level since 2000.

Then, across the pond, the UK sovereign yield curve also inverts. But that curve only inverts to 2008 Great Recession levels. The UK 2-year sovereign yield is up more than 50 basis points this morning.

Next we have the curve for US dollar swaps (green line), with a steep upward slope up to 6 months, then decreasing. The same is true for the US Treasury asset curve (blue line), except it has a steep upward slope up to 1 year and then begins to decline.

And then we have the 30-year mortgage rate that goes up to 6.59%, 129% since Biden was sworn in as president.

Also down since Powell unleashed his monetary Panzers on the economy and financial markets are 1) agency MBS and 2) the S&P 500 index.

When I saw Carson Wentz of the Washington Commanders get sacked 9 times, I thought maybe Prince Harry was playing. Or maybe Meghan Markle.

Harry Price is on the left, Commanders QB Carson Wentz is on the right.

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