You know it’s bad when…
For the first time since October 2016, German 10Y bond yields have tumbled below Japanese 10Y bond yields…
Meanwhile, the US yield curve continues to crash (3m Bill to 18m Bill)…
As Saxo’s Steen Jakobsen notes, this indicator has been shown(in academic papers) to have highest tracking for future Fed path.
The whole world is turning Japanese… and American stock markets just refuse to see it.
via ZeroHedge News https://ift.tt/2uxIiJQ Tyler Durden