FOMC Minutes: The New Narrative Takes Shape

By |2019-02-20T16:40:08-05:00February 20th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Nothing the Fed did today, or has done up to today, has changed the curves. Eurodollar futures and UST’s, they are both still inverted. The former sharply inverted. The only thing that has changed since early January is the narrative – and not in a charitable way. It is treated as a positive when it [...]