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Rapidly Steepening Yields

It is a very bad thing. It pushes the mortgage rate way up.
It seems to me the beginning of the new wave of the yield steepening.
About a week ago, the Street still thinks Treasury will push the yield back to 280~290.
Now, we may face it breaches the 4% mark in 2 or 3 months.

It reminds a lot of ppl about the 2003 story. In 2003 (Aug to Sep), the curve steepened by 150bps.
 
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