I think one has to be cautious in comparing the behaviour of the yield curve in the current circumstances to the yield curve historically. This is because treasury movements are also reflecting uncertainty in the USA as a sovereign rather than just pricing in regular economic expectations and uncertainty.
I think one has to be cautious in comparing the behaviour of the yield curve in the current circumstances to the yield curve historically. This is because treasury movements are also reflecting uncertainty in the USA as a sovereign rather than just pricing in regular economic expectations and uncertainty.