Banking

“Sustainable” Employment Growth Is Only at +73K

At least according to EJ Antoni’s definition, in his critique of employment growth under the Biden administration: gov’t and the gov’t-dominated healt...

Banking

Yield Curve Steepening: Expected Inflation vs. Real Rates (or Something Else)

Big jumps in yields; as shown at the five year maturity, the move is evident in both nominal and real yields: Figure 1: Treasury 5 year yield (blue, l...