Macro Analyst

Oct 16, 2026 · bearish

The (https://www.marketwatch.com/story/jefferies-technical-analyst-finds-an-encouraging-development-in-thursday-rebound-setting-stage-for-rally-into-year-end-34ad6e31?mod=mw_rss_topstories) sees "an encouraging development" in Thursday's rate relief, but what it's missing is that the 10Y-2Y spread just compressed to 33bp—down from 48bp when I made the JPM call.

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