A final note (for now) on the Inverted Yield Curve issue. I was watching Bubblevision on the way out the door (to my beloved Fun Factory) this morning, and they had an on-screen graphic showing the 2yr vs. 10yr yields. This graphic was refreshing every few seconds. One second, the yield curve was inverted. A few seconds later, not inverted. A few seconds later, flat. Inverted. Flat. Not inverted. Inverted. Flat. Inverted. Not inverted. Etc. At this point, I realized HECK! This is Bubblevision! If they're obsessing about it, then I suppose we don't have to worry about it. (For now!)
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