SHY - Eurodollar University: The Essential Business Of Decoding Curves
It was the most common catchphrase of 2017, interest rates have nowhere to go but up. Maybe it was doomed from the start given that Alan Greenspan was among the more prominent commentators expressing this view. In his mind, the bond market was in a bubble and the party was already over.
His successors at the Fed, following in his footsteps, had heroically vanquished the negative factors still lingering after a Great "Recession" nobody could have seen coming. Success at long last, total and complete vindication for monetary policy and econometrics.
In July 2017, the