‘The Flattener Is Like Bitcoin’: This Is What It’s Come To, Folks.

If you're one of the folks who have tried to take a contrarian approach and lean against inexorable curve flattening as opposed to leaning into it harder than a Texas rapper on purple Sprite, well then you've probably had a rough go of it. Take Monday for instance, which finds the 5s30s eying 70bps: This has become a veritable obsession for markets as everyone scrutinizes the tea leaves on a near-hourly basis in the hope of catching a whiff of a looming recession. Much more on why long rates