I guess I took my own advice a little too literally. I did write that when the eurodollar futures curve first inverted, it was going to be dull. Didn’t start out that way, of course, with a small bit of theatrics right during that front week in December when the inversion first showed up. Ever since then, it has stuck to what I had said on Day 2 about what you should expect, or not to:
For the time being, our focus for now remains on the twisting. And we shouldn’t expect much more out of it. At least, for now.
Though this was truly a Big One, a serious signal right up in the top tier of monetary and financial warning signs, it still goes on the backburner in this first stage. I hadn’t realized, however, that while I’ve kept it in the corner of me eye for myself, I haven’t updatedRead More »