Below is a chart and excerpt from today's Early Look written by Macro analyst Christian Drake.

Beyond highlighting the empirics around our uniquely American perpetual inequality generation engine, the Pelosi theatrics offer an entertainingly convenient segue to another Chappelle classic:  “When Keeping It Real Goes Wrong”

A sketch that policy makers, faced with an anomalous macro factor set they were (partially) complicit in cultivating, were again forced to hijack as a working policy mantra.

2Y Yields hit a 15Y highs yesterday while Real Rates continued their inexorable march northward. 

CHART OF THE DAY: “When Keeping It Real Goes Wrong” - CoD When Keeping It Real Goes Wrong