John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Yorikke who wrote (6695)	8/13/2002 11:41:25 PM
From: John Pitera	Read Replies (2) of 33421

The 3 month and 6 month bills are yielding less than the Fed Funds. and the 6 month is the low spot on the yield curve. so that is an inversion. Make no mistake. It's not yet as dramatic as having the short rates above the long rates, but that is coming. Take our word that we spend an awful lot of time watching The slope and shape of the curve and currency and interest rate differentials. When we saw the 6 month slip down to be the low yield on the curve it's an early heads up that things will change in interest rate land in several months. but not to worry the market always gives us lots of time. BTW. the spread between 10 year treasuries and AAA and Baa bonds is up at some of the most extreme levels we've ever seen since 1953. Only 1982 registered a bigger spread. and heck the world was coming to an end back then -vbg-. just providing a couple of friendly data points... John

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