Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.

Just to quickly review what The Bond Market thought about last week's market moves and the #Quad3 Stagflation data:

A) Short-End of The Curve (i.e. Fed Policy) ramped +14 basis points last week to 5.08% on the UST 2yr
B) Long-End of The Curve (i.e. economic growth expectations) fell 9 basis points on the UST 30yr
C) Yield Curve re-inverted by -15 basis points on 10s minus 2s to -84bps

Is minus -84bps (basis points) bearish? A: Yes.

CHART OF THE DAY: Yield Curve Re-Inverts - COD