The Freddie King “Going Down” Curve
With The Fed intent on raising the short end of the yield curve and not quite committed to raising the 10 year T-note yield (through a glacial unwind spreed), we have a yield curve slope that is going down.
Here is the 10Y-2Y slope since 1977.
Thanks to Robert Norris for the Springsteen replacement.
At least gold is up since late 2015.