Many thanks John for writing this “ample reserves” regime and why the bond yield has been staying inverted and not signalling recession. A lot of commentators still look at yield curve signalling in the traditional way but indeed QE has changed bond yield signalling.I have great admiration for people working with/in the bond markets as they appreciate macro much more deeply!
Many thanks John for writing this “ample reserves” regime and why the bond yield has been staying inverted and not signalling recession. A lot of commentators still look at yield curve signalling in the traditional way but indeed QE has changed bond yield signalling.I have great admiration for people working with/in the bond markets as they appreciate macro much more deeply!
Many thanks Marianne, this is very nice and encouraging to hear!
Many thanks for the restack!