Bye bye NIM... The spread between 30Y and 5Y Treasury yields has collapsed to 151bps, its lowest since January 2009. It seems expectations for the exuberance of the business cycle expansion are a little underwhelming. This is half the Treasury curves peak steepness (hope) seen at the end of 2010...
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On the day 30Y yields are down 2bps and 5Y is up 2.5bps...
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Chart: Bloomberg
