PST - Jay Powell Is In The Way (Literally For The UST Curve)
Early in May 2013, the word "taper" exploded into the mainstream. It was everywhere, scarcely an article written or news story pieced together which hadn't included the term (even though Ben Bernanke never actually said it). The so-called tantrum spread like wildfire simply because of what it represented, the very thing everyone had been waiting for. Confirmation at last the long economic nightmare, about half a decade to that point, was over.
For much of the rest of 2013, there were various calls for an end to the "30-year bond bull." Setting aside the