print-icon
print-icon

The real inversion

Steve Blitz: "...in prior cycles the nominal and real yield curves generally moved in sync, so there was no need to differentiate. This time, the nominal curve flipped a year ago, but the real curve only just inverted in January. The real curve matters more because recessions occur more predictably after they invert (median is 12 months, 7 months is the shortest)".

Loading...