The Euro$ curve inversion of 2018 wasn’t an isolated case by any means. Along with all the other “bond market” stuff, these together had been a useful warning three years ago for reality as it unfolded the opposite way from the narrative about accelerating growth and inflation. Not just the one curve kinked, an escalating stream of alarms. There was … Continue reading Last Week Euro$, This Week Starts w/RRR; Or, The Twelve Days of Deflation