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Bills Flipping The Debt Ceiling
The dollar stopped falling on January 6, beginning a reversal which has lasted more than eight months. This forewarning was joined two days later when TIPS breakevens crossed, inverting the 5-year when compared to the 10-year. About a week after that, T-bills. In other words, as I had written up last week, there actually were quite a few contrary indications in January 2021 just like there had been during September 2017. These may have been less loud than four years ago, yet proving to have been just as serious as when Reflation #3 and globally synchronized growth began to be forced into Euro$ #4 and its globally ... (full story)