10yr Yields peaked at ~1.70 as the Federal Reserve began YCC (Yield Curve Control) well in advance of recognition by the Retail Bond Market.
With a shortage of T-Bills and Janet Yellen attempting to Fund the Fiscal Malfeasance out the Curve in order to reduce Short Term funding.
With CASH mounting in Money Market Funds, there remains a large pool of Cash with the potential to absorb further issuance while driving Notes to Bonds Yields even lower.
The issue becomes the non-transitory nature of shortages, rates of labor, price levels for those of us keeping track and a number of perversions to the integrity of Data presented.
There is a long history of Intervention Failures, the approaching one will be historic. Europe has by any measure, already defaulted.
This Point of recognition is quickly approaching in August.
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