ARDC - The Flattening To Focus On
The flattening Treasury yield curve is getting a lot of attention, but there's another flattening that is arguably of greater importance: the narrowing return gap between low- and high-risk assets. Jeff explains.
The only thing more persistent than the flattening yield curve between two-year and 10-year Treasuries has been market fears about the flattening yield curve. Many investors are fixated on whether the flattening yield curve is set to invert - and foreshadow a recession as it often has in the past.
But this attention may be misdirected. Our latest Fixed income strategy piece,