Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
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In today’s Chart of The Day (slide 64 of yesterday’s Hedgeye Macro Mid Quarter Update presentation), we’re showing you that the bond market really gets the big bang risk here of the Fed tightening into a big time GROWTH slowdown. Yes, looking at the UST 10yr OIS minus the 2yr, 1-year forward (i.e. the Expected Yield Curve 1yr ahead), the real market is effectively expecting the curve to begin INVERTING a year from now. Don’t let either your pending performance or integrity as a person ever look like that chart. |
