What, When, Nominal, Forward, Yes, Oil; or, Spreads Everywhere
February 2005, Federal Reserve Chairman Alan Greenspan goes before Congress to tell the simple-minded politicians there about his “conundrum.” They and the media eat it up because somehow the guy was declared the “maestro.” Even so, he had a major problem and it was nothing more than LT Treasury yields doing what they do; that is, pricing less growth and [...]
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