We got trouble in Potomac City! No, I’m not talking concerning the quite a few Top Secret documents that Biden carelessly left in his garage in Delaware and the UPenn Biden Center. They usually found more over the weekend. I’m talking concerning the US Treasury 10Y-2Y yield curve being inverted for 135 straight days. And because of inflation, REAL wage growth has been negative for 21 straight months.
All this is occurring while M2 Money growth (green line) stalls to 0% YoY.
Swaps 5Y are rising as The Fed withdraws monetary stimulus.
