Inner And Outer Limits: Resolving An Inconsistency And What It Means For Risk

Inner And Outer Limits: Resolving An Inconsistency And What It Means For Risk

Last Sunday, I brought you some excerpts from a recent JPMorgan note which flagged what the bank's Nikolaos Panigirtzoglou called a "significant" development that seemed to underscore the idea that the Fed is either headed for a policy mistake or else that late-cycle dynamics are taking hold. Specifically, JPM flagged the first sign of inversion in the U.S. curve. Obviously, an inverted curve is seen as a precursor to some rather unpalatable outcomes and given that flattening pressure quickly
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