:LPE:

I was preoccupied for a couple of months. Herewith my first post in some time. CNN reports that the forward yeild curve on US Tresury bonds has or will soon invert. Below please find the PIMCO chart of same, showing a small inversion 3 years out. Conventional wisdom says this spells hard times ahead. US housing purchases were off on a 12 year low last month, which is an early but as yet unconfirmed signal the housing market is cooled, and with it, a significant amount of the consumer finance that was driving US domestic demand. I’ll post on this subject again soon.