We also had an outright inversion in 1998 and there was no recession until 2001, although I would add there was a deterioration in corporate financial health that got underway in 1998 that didn't really end until 2002.
More Quotes from John Lonski:
The major reason why the 10-year Treasury yield and the 30-year mortgage yield fell to near 30-year lows was because of pronounced weakness in overseas economies. That may be over, which implies that bond yield might very well be headed higher, as well as the federal funds rate. . . The sooner we get back on a normal course, the better.John Lonski
Five years of having equity market growth of 25 percent a year seems to be a thing of the past, ... The law of long-term averages is reasserting itself.
John Lonski
This largely explains why the credit market shrugged the number off. And the LEI up three-tenths (of a percentage point) shows the economy isn't in danger of slowing anytime soon.
John Lonski
The global investment community is disappointed with this new Japanese government.
John Lonski
It's an attractive story, ... Here you have an investment grade company selling a 30-year treasury at a nice premium.
John Lonski
The super-sized issue from ATT reminds us of how . . . investor demand for long-term investment-grade corporate bonds is very strong. Corporate America has more than offset (the) reduction in federal borrowing . . . brought on by the emergence of the federal budget surplus.
John Lonski
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