The treasury curve is steepening, why is anyone’s guess. Doubtful that there is a major roll out of treasuries and into equities right now until the debt ceiling issues get resolved. In a normal, non-centrally planned world, this may indicate potential inflation concerns, but who knows. Maybe our man Kevin just got pissed off that he has to re-use his starbuck’s cup & stopped working for the past few days.
[VIA Zero Hedge]