Past Peak Hawkishness (guest: Barry Knapp)
The Market Huddle
00:00
The Fed's Mid-Cycle Easing
In 19 20 18, you we lost the salt deduction in regions that had high property taxes. The trade war caused a global manufacturing and trade recession. And so that disruption actually is the primary reason why the us Treasury curve wound up inverting in 20 19. That's the reason why the market reacted so badly to that two and a half % level on funds while the fed was also engaged in cute.
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