Editor's Note: Below is a brief excerpt from today's Early Look written by CEO Keith McCullough. Click here to learn more about the Early Look.
While there aren’t many market signals left that US growth bears can cling to, a “flattening yield curve” is one of them. This likely reflects that there isn’t much upside to rate of change “reflation” beyond the OCT data that you’ll get in NOV.
As a matter of #process, for those of you looking ahead at the “comps” (comparative base effect period), you’re well aware that the DEC, JAN and FEB compares for headline inflation steepen significantly.
If/when reported “reflation” rolls over again, that should keep a cap on the upside in the UST 10yr Yield.
