" "It's going to steepen the curve on the long end.
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" "It's going to steepen the curve on the long end.
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I love the front end ... the curve should steepen here,' said Rieder.
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And yield curves can steepen or are flatten for a variety of reasons.
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Schiegoleit anticipates the yield curve will continue to steepen at a measured pace.
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Those wedded to the "reflation" trade of want to see the curve steepen.
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Trump's comments against Fed rate hikes also helped steepen the Treasury yield curve.
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Such a move would steepen the yield curve and help stabilize financial markets.
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The equity selloff also came as the U.S. Treasury yield curve continues to steepen.
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This will steepen the yield curve, give a boost to banks, and therefore growth.
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Thus, Treasury yield curves will subsequently steepen as the 10-year Treasury yield rallies.
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The saw losses steepen as the yen firmed near the end of the session.
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The Fed's policy prescription is plain: Cut rates enough to steepen the yield curve.
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I think Japan's yield curve should steepen further ... Super-long yields should be higher.
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Yes, the yield curve is flat, but it will steepen as inflation picks up.
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In response, we've seen the Treasury curve steepen with two-year prices bid up.
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"That will allow the Fed room to cut rates which will steepen the yield curve."
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He added that the curve could be expected to steepen given stronger U.S. economic growth.
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There are reasons to believe it can steepen and reasons to believe it will invert.
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According to Meeks, the yield curve will inevitably steepen again and that'll help boost financials.
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"If we start to see it steepen again right away, it could get ignored," said Hickey.
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One of those measures would steepen her proposed wealth tax on net worth above $1 billion.
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Investors like Paulsen expect the yield curve to steepen if Fed rate cuts improve economic growth.
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And it argues that the curve is more likely to flatten from these levels than steepen.
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The 10-year Treasury yield also declined, helping the yield curve steepen slightly from its decade low.
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That would steepen the yield curve and would allow the curve to move more freely than now.
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Gundlach noted that the yield curve will flatten but then actually steepen again before a recession actually begins.
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The BOJ is studying several options to steepen the bond yield curve, sources familiar with its thinking said.
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It also expected yields on 10-year and U.S. Treasurys would rise, with yield curves set to steepen.
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That could drive it below the 10-year yield and the curve would steepen as the trade continues.
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If this scenario does eventuate, it probably means the backwardation in the iron ore futures curve will steepen.
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I think we think depending on how the data look, the yield curve could steepen a bit more.
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A move like this could steepen the yield curve and also spur heightened volatility in the global bond market.
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Respondents now expect the yield curve — or the spread between short- and long-term bond yields — to steepen significantly.
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The decline of the iPhone might steepen and other services might not be able to compensate, dollar for dollar.
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However, the correlation is not direct as it requires the yield curve, which has been flattening of late, to steepen.
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Euro zone bond curves are expected to steepen as a result, and the market moved on those expectations on Friday.
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Fixed income traders are watching whether the curve will start to steepen, which would be likely if the Fed eases.
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In a sign of bullish sentiment, the Treasury yield curve continued to steepen, hitting its widest level since November 2018.
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It also committed to keeping 33-year bond yields around zero percent in an attempt to steepen its yield curve.
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Wien said that the yield on the 10-year treasury will approach 2.5%, and that the yield curve will steepen.
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What is more, if low global bond yields have anchored Treasury yields, rising Japanese rates could steepen the yield curve.
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In reality, the yield curve would steepen in advance of Fed action, owing to the reality that markets are anticipatory mechanisms.
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If the yield curve is about to (steepen), all of a sudden it becomes a better environment to be a bank.
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"As we face the risk that central banks might not bail investors out, the curve will steepen," the HSBC analysts said.
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Rojas added that the bull case would likely cause the U.S. Treasury yield curve to steepen and term premiums would rise.
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"And the reason for that is that the curve should naturally steepen as the Fed rate hike probability goes up," Sanchez said.
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U.S.Treasury have historically rallied, and the curve continued to steepen for up to six months on average after a Fed rate cut.
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While many analysts predicted the BOJ might try to steepen the yield curve again, Shirai was concerned about the potential market impact.
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The "Fed needs to steepen yield, weaken US$, boost base metals to give cyclicals a bid...we think they will," BAML said.
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The data boosted U.S. Treasury yields, while the improving economic picture has seen the U.S. yield curve steepen in the past week.
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And the Fed will have to follow suit as the yield curve continues to steepen in the weeks and months to come.
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Yield curves were inverted for several months in 2007, then reverted and began to steepen in the fall before the recession hit.
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Also, the Bank of Japan may tweak its negative-rates and asset-buying policies and announce moves to steepen its bond yield curve.
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In response, Hickey predicts the Street will back off its "extreme" rate-cut expectations, yields will push higher and the curve will steepen.
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Finally, it appears the Bank of Japan is now looking to steepen its yield curve, by purchasing fewer amounts of longer-dated securities.
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Two Michigan laws taking effect this month will steepen penalties for animal abuse in the state after lawmakers said existing penalties were insufficient.
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In addition, they argued, the curve will likely steepen as the U.S. government runs a bigger deficit and issues more debt, they said.
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"What it does is it helps potentially steepen the yield curve, and that creates a favorable net interest environment for banks," he said.
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This means that if the market believes that rates will go up in the long term, the curve will steepen at its end.
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This decline could steepen to 67 percent by the end of the decade, according to the newest edition of the WWF's Living Planet Report.
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"The curve should probably steepen so maybe the 3.10-year Treasury makes it to 3.5 percent or 3.6 percent during that move," he added.
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I think if we can go a few days inverted and then start to steepen again, I don't think the concerns are as worrisome.
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But O'Donnell said the Treasury's issuance could actually make the curve steepen, meaning the short-end and long-end yields could move further apart.
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However, yields on 10-year and 30-year Treasuries moved higher to steepen the yield curve which had flattened over the past few sessions.
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This July adjustment did not steepen the yield curve much mainly because the BOJ emphasized that the 22-year target remains the same zero percent.
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Citigroup analysts expect a Trump victory would send Treasury yields higher and steepen the curve, though yields have been moving lower in a safety trade.
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I'm not sure it's going to steepen significantly given that you've still got domestic investors in Japan who need to have some kind of yield.
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Worries on global growth could steepen with the U.S. economy's third quarter economic growth numbers, due later in the day, expected to show a slowing.
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"At the end of the day it is very clear that Draghi wanted to steepen the yield curve to help the banking sector," Forest said.
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Easier monetary policy measures, such as rate cuts, could steepen the yield curve and would bring the fed funds rate back below the neutral level.
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We think there's a limit on how much the yield curve can steepen just given that we're in the late stage of the economic expansion.
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Fed Chairman Jerome Powell said the economy can expand for "quite some time," which also helped the yield curve steepen to its highest in two months.
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Allowing the size of the Fed's balance sheet to be reduced through runoff would arguably steepen the yield curve while increasing the supply of safe assets.
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Gundlach is also expecting the so-called yield curve — the difference between short-term and long-term yields — to steepen in 2019, contrary to conventional wisdom.
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The island has also been dealing with a sharp decline in population; experts fear the drop could steepen after the hurricane further exasperated its financial woes.
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The BOJ is studying options to steepen the yield curve to help prompt new lending by banks that have been hurt by low long-term rates.
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If, for instance, some Treasurys would start to show negative yields, that might push the Fed to steepen what likely would be an inverted yield curve.
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In his 2019 outlook, Gundlach, the so-called bond king, said he believes the yield curve will flatten but then steepen again before a recession actually begins.
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He expected that the BOJ would aim to steepen Japan's bond yield curve and if that move "impressed" the Nikkei stock index, then the yen might weaken.
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I would expect that the spread between the super long bond, the 103-year bond, and 10-year government bonds, is probably going to steepen over time.
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U.S. long-dated bonds have underperformed in the past month, in line Japanese government bonds as the Bank of Japan studies options to steepen the yield curve.
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"The BOJ's monthly bond buying plan announced yesterday (Monday) made it clear about its intention to steepen the yield curve," said a trader at a Japanese brokerage.
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Analysts said a reduction in long-term bond purchases could be an attempt to steepen the yield curve in order to mitigate the costs of cutting rates further.
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Wary of a flattening yield curve that risks impairing financial intermediation, it will also seek ways to steepen the curve such as making its bond buying more flexible.
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The U.S. yield curve continued to steepen for a third straight session on Tuesday, with the spread between the five-year and 30-year rising to 103 basis points.
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Fed Chairman Jerome Powell said earlier this week the economy can expand for "quite some time," which also helped the yield curve steepen to its highest in two months.
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BOJ sources have said the central bank is considering ways to steepen the yield curve as a means to reduce short-term costs for businesses while protecting Japanese banks.
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"We've got more fiscal debt in train in the U.S. That has to be funded," and will likely push up long rates and steepen the yield curve, Evans said.
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"We've got more fiscal debt in train in the U.S. That has to be funded," and will likely push up long rates and steepen the yield curve, he said.
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Germany is considering lowering its corporate tax rate while the U.S. government is thinking about issuing 260.69- and 100-year bonds in a bid to steepen the yield curve.
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Germany is considering lowering its corporate tax rate while the U.S. government is thinking about issuing 50- and 100-year bonds in a bid to steepen the yield curve.
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Indeed, the yield curve is beginning to steepen after flattening so far this year, and that should prove beneficial for the banks, said Gina Sanchez, CEO of Chantico Global.
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He says he intends to: Just by getting elected, Trump has done what the Federal Reserve has been trying to do for years with quantitative easing: steepen the yield curve.
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Many investors assumed that as the labor market healed, inflation would begin to rise, the Fed would hike rates, and the curve would steepen in anticipation of additional rate hikes.
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You probably will continue to see that value trade come into play with something like this, you probably will continue to see the yield curve steepen with something like this.
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On the flip side, if growth disappoints, the Fed might be tempted to cut the overnight lending rate again and the yield curve could steepen and help widen lending margins.
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"The Trump administration policy mix is highly reflationary, which means to me the yield curve is going to steepen, [and] you're going to see a lot more markets activity," Trennert said.
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The market has been in a downtrend since August on suspicions that the BOJ may seek to steepen the yield curve to help financial institutions which are suffering from negative rates.
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The yield curve would steepen (long-dated bond yields would rise), and equities would do well (particularly cyclical stocks on the grounds that the effect would be to stimulate the economy.
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"When the BOJ seeks an exit from easy policy, the yield curve will steepen and interest rates will rise," Kuroda said in a meeting with business leaders in Nagoya, central Japan.
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The yield curve will likely steepen as the Fed trims its balance sheet and as the federal government issues more debt to fund fiscal stimulus, Williams said in Pebble Beach, Calif.
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The spread between two-year and 30-year yields shrank to 95 basis points from 102 basis points touched earlier this week as some traders unwound bets that the curve will steepen.
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The bank now aims to steepen the yield curve, after a sharp drop earlier this year in long-term yields deep below zero flattened the curve and posed problems for financial institutions.
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LaVorgna added that the Fed has to make more cuts to further steepen the curve, and he expects it to make the quarter point cut next week, plus another later this year.
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"They'll try to steepen the yield curve and see if it helps, but that really hasn't helped because they've already signaled rate cuts and the yield curve is not steepening," Boockvar said.
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TOKYO, Nov 13 (Reuters) - Longer-dated Japanese government bond prices dipped on Tuesday, causing the yield curve to steepen slightly, after an auction of 40-year debt drew lukewarm demand from investors.
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Many are worried that the inversion in the yield curve is a scary recession warning, but in fact, it can be even scarier when the curve reverses and begins to steepen again.
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"Banks typically outperform as yield curves steepen," said Barclays, adding that banks such as Societe Generale, ING and ABN Amro looked to be best placed to benefit from rising long term rates.
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Also on Friday, the central bank will announce its bond buying operation plan for October, which could contain clues to the extent the BOJ would like to see the yield curve steepen.
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Hence the market now expects the BoJ to announce policy measures designed to steepen the yield curve (the reverse of the Fed's Operation Twist is one way we like to characterize this).
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Japanese shares rose nearly 2 percent and bank stocks leapt 7 percent after the BOJ not only refrained from taking interest rates further into the negative but pledged to steepen the yield curve.
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The central bank has acknowledged the potential costs of unorthodox policy, prompting speculation that it will probably seek to steepen the yield curve to mitigate the impact of negative rates on financial institutions.
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The report also said that the bank had changed its view the yield curve would steepen in 2018, and now believes that the spread between 5-year and 30-year yields would shrink.
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"House Democrats were braced for a rough night in California that would steepen their climb to the majority," said former Representative Steve Israel, a Democrat who previously ran his party's House campaign arm.
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"On Friday, the BOJ began to reenergize the notion of looking at their policy in a way that could steepen the yield curve," said Robert Tipp, chief investment strategist at PGIM Fixed Income.
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The nation&aposs childcare market created $59 billion in revenue last year, although the number of businesses fell as the costs of running a program steepen, according to a recent report in IBISWorld.
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And bank stocks gave back about a third of their massive gains since the election as the yield curve has failed to steepen significantly and the hope for fewer regulations has faded a bit.
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The stated aim is to "reduce costs faster and more profoundly than our peers" and, ominously for even other low-cost operators, to "steepen the gradient of the cost curve in the bottom quartile".
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The Bank of Japan is considering ways to steepen the Japanese yield curve, according to sources, while media reports speculating that central banks are running short of fresh stimulus measures slackened risk appetite globally.
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There was a 1003 percentage point turnaround in the number of investors who expect the 2-year/10-year yield curve to steepen, with the highest percentage of investors predicting steepening in three years.
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Also weighing on sentiment were reports that the Bank of Japan was considering ways to steepen the Japanese yield curve, along with worries that central banks more generally were running short of fresh stimulus options.
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"So it's hard to really speculate and theorize as to why it might all of the sudden steepen, now as the unemployment rate continues to go lower … surely wage pressure should re-emerge," Evans said.
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On Monday's "Halftime Report" Lebenthal said he "sees value" in the sector but that the yield curve needs to steepen before the sector can move higher, which he sees happening once trade issues are resolved.
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Go deeper: The Fed's Treasury bill purchase program helped steepen the yield curve The ultralong bond is back in consideration as deficits rise Stocks, bonds, gold and oil could rise at least 10% in 2019
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Some players had bet that the curve will steepen on the view that the Bank of Japan will keep a tight grip on bond yields of up to 10 years but tolerate rises in longer yields.
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The shortage of short-term bonds gives a twist to the Bank of Japan's reported plan to try to steepen the yield curve to reduce the damage to financial institutions from the BOJ's negative interest rates.
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Cabana said if the Fed were to cut its interest rate forecasts, that would signal a more accommodating Fed and the yield curve could steepen, or the spread between long term yields and short would expand.
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It helped subdue longer-end rates, but still as the Fed moves away from QE, its program to unwind its balance sheet and allow Treasury securities to run off has not helped to steepen the curve.
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AND ONE THING THAT'S INTERESTING IS I THINK IF WE GET THIS BREAK TO HIGHER YIELDS THAT MAYBE WOULD HAPPEN ON 3.22 ON THE 30-YEAR I DON'T THINK -- I DON'T THINK IT'S STEEPEN THE CURVE.
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"Markets are reacting to the possibility that the Fed might join the Bank of Japan in conducting policy to steepen the yield curve," Ric Spooner, chief market analyst at CMC Markets in Sydney, wrote in a note.
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A spike higher in longer-dated bond yields had caused yield curves in the United States, Japan and Germany to steepen over the past two weeks, prompting the redemptions from European, U.S. and emerging markets stocks funds.
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"The chances of that have increased and that means we have to look at the shape of the yield curve, which would steepen," he said, adding that Bund yield could rise to 0.2 percent over the next month.
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Once begun, Misra said, the Fed's secondary market purchases were likely to total about $250 billion in the first 12 months and would steepen, or widen differences among, interest rates paid on different U. S. Treasury debt securities.
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After weeks of rapid flattening, the yield curve may be about to level off or even steepen following the U.S. Senate's approval on Saturday of what would be the largest change to U.S. tax laws since the 1980s.
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Long bonds have underperformed in the past month, in line with a steepening yield curve in Japanese government bonds, with the Bank of Japan studying options to steepen the yield curve to help prompt new lending by banks.
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Pressure from rising bond yields overseas is likely to hurt longest maturities the most and to steepen the yield curve, because the BOJ's control on them is looser than that on the 10-year bonds and shorter maturities.
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In light of our call for a cyclical weakening in GDP growth this year, the Fed is likely going to have to modestly cut interest rates in an attempt to steepen the yield curve and buoy investor sentiment.
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The Bank of Japan (BOJ) has sent clear signals that it will allow the yield curve to steepen to help domestic banks and investors make money but, after years of quantitative easing, portfolio managers like Takei are unimpressed.
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NEW YORK, June 20 (Reuters) - Benchmark U.S. 10-year Treasury yields may decline to 1.75% and the yield curve may steepen further if the Federal Reserve lowers interest rates two to three times, Goldman Sachs analysts said on Thursday.
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In September, the Bank of Japan implemented "yield-curve control" — keeping its 10-year government bond yield at 0 percent in an effort to steepen the yield curve, or increase the difference with negative-yielding shorter-term bond yields.
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Peter Kinsella, head of emerging markets research at Commerzbank, noted that last week's ECB meeting did not signal extra stimulus, some Fed officials had made hawkish comments and Japan had hinted at the need to steepen its yield curve.
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Now months after staying inverted, yields on parts of the curve are starting to steepen, or show a greater difference in value, a sequence which could be the true sign of economic trouble ahead, some on Wall Street said.
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If the yield curve were to steepen further, it would particularly benefit shares of small-cap banks, given their reliance on lending as a source of revenue, said Robert Phipps, director at Per Stirling Capital Management in Austin, Texas.
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Ned Davis Research chief global investment strategist Tim Hayes remains underweight equities, pointing to a lack of breadth in the comeback in September, as well as slowing equity fund inflows and a failure of the yield curve to steepen.
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One member had said the shape of the JGB yield curve should be allowed to steepen and that the long-end of the curve should be allowed to fluctuate in a larger range, particularly to the upside, according to the minutes.
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There has been a false idea in the economic community that a rate hike would cause the yield curve to steepen, reflecting the belief that the economy is strong enough to warrant a rate hike, or two, or three, this year.
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The nine-member board may also discuss recent declines in Japan's long-term interest rates, as 10-year yields threaten to slide below zero and undermine the BOJ's efforts to steepen the yield curve to give financial institutions breathing space.
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The dollar, which had fallen against the yen before Brainard's remarks partly on speculation that the Bank of Japan was studying several options to steepen the bond yield curve, briefly extended its loss on the day to more than 1 percent.
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The possibility of a U.S. rate hike this month, news that the Bank of Japan is studying ways to steepen the bond yield curve, and the lack of action at last week's European Central Bank are all cited as possible triggers.
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Those predictions have varied from expectations the BOJ will cut interest rates deeper into negative territory, to changing the size or make-up of its QQE asset purchases, to trying to steepen the yield curve or to doing nothing at all.
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IHS Markit said the March figures suggested the euro zone economy could shrink by around 2% quarter-on-quarter in the first three months of 2020, and the escalation of measures to contain the virus could steepen the downturn in Q2.
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The Bank of Japan has been sending signals that it could ease policy further by pushing down short- and medium-term yields but still allow the yield curve to steepen at the longer end, which discouraged purchases at Tuesday's auction.
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The yield on the 30-year Japanese government bonds jumped 4.0 basis points on Monday to hit its highest level since late March on expectations that the Bank of Japan may seek to steepen the yield curve and possibly taper its bond buying.
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Rising yields, which makes borrowing more expensive, are driven by market expectations that the BOJ might try to steepen the yield curve at its policy meeting on Wednesday, possibly by tapering its purchases of longer-term debt and buying more short-term paper.
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The most obvious way for the BOJ to steepen the yield curve would be to increase buying in short-term notes while reducing purchases of long-dated bonds, but that move would worsen the chronic scarcity of some two-year bond issues.
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"I think the 10-year is in a range, but I don't think rates are going to move significantly lower at the long end of the curve..If anything they could move higher and the curve could steepen from here," Rieder said.
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The Bank of Japan, meanwhile, is studying several options to steepen the bond yield curve, sources familiar with its thinking said, as authorities desperately seek policy tools to revive an economy that has failed to emerge from stagnation despite years of massive stimulus.
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Sources familiar with its thinking told Reuters last week that the BOJ is now studying several options to steepen the bond yield curve as authorities desperately seek tools to revive an economy that has failed to emerge from stagnation despite years of massive stimulus.
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Predictions had ranged widely from expectations the BOJ will cut interest rates deeper into negative territory, to changing the size or make-up of its quantitative and qualitative easing (QQE) asset purchases, to trying to steepen the yield curve or to doing nothing at all.
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And while the U.S. yield curve has started to steepen since Fed Chairman Jerome Powell hinted that a rate cut could be coming in July, Bass added that the central bank will eventually have to mimic the Bank of Japan and restart quantitative easing.
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The Bank of Japan is now studying several options to steepen the bond yield curve, say sources familiar with its thinking, as authorities desperately seek out policy tools to revive an economy that has failed to emerge from stagnation despite years of massive stimulus.
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Higher bond yields came after the European Central Bank on Thursday kept its policy stance unchanged and after comments by Federal Reserve officials that hinted at a U.S. interest rate hike, while the Bank of Japan is studying several options to steepen its yield curve.
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TOKYO, Nov 20.310 (Reuters) - Japanese government bond (JGB) prices rose on Friday, tracking firmer U.S. Treasuries, with longer-dated bonds gaining sharply as the Bank of Japan (BOJ) did not hint on any concrete measures to steepen the yield curve at its policy meeting.
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Williams, who will leave his current job as San Francisco Fed president in June to take over at the New York Fed, also said he expects the Fed's shrinking balance sheet will help steepen the curve by putting upward pressure on longer-term rates.
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Tom di Galoma, managing director for rates trading at Seaport Global Holdings in New York, said the yield curve might steepen only a little bit more as rising rates on 10-year U.S. Treasuries would attract more investors wary of low-rate European alternatives.
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The shakeout has been triggered by growing unease about a possible U.S. interest rate hike this month, news that the Bank of Japan is studying ways to steepen the bond yield curve and disappointment at the lack of action at last week's European Central Bank meeting.
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However, in an expression of bullish sentiment, the yield curve continued to steepen on Wednesday, hitting its widest level since November 22.60, after strong corporate U.S. earnings led the S&P 241 index just 232% away from an intra-day record high of 2,940.91 hit on Sept.
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Bond markets have come under pressure in recent days from unease about a possible U.S. rate hike this month, news that the Bank of Japan is studying ways to steepen the bond yield curve and disappointment at the lack of action at last week's ECB meeting.
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The sharp increase in American travel to Cuba is putting a strain on private and state businesses on the island, leading to some shortages and an abrupt rise in prices that will only steepen as more Americans take advantage of relaxed travel regulations, industry experts said.
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"One of the reasons I'm bullish is I do think that the Fed, the ECB and the BOJ, all these central banks, one of their goals for this year is to steepen the yield curve, and that's going to be very bullish for the banks," said Maley.
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While the 210-and-21990-year inversion has gone away for now, the previous three bouts of inversion on this part of the yield curve have shown a pattern: a steepen and then return to a more sustained or deeper inversion more than once before a recession hits.
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Analyst predictions for the BOJ's next move varied widely, from expectations that the central bank would cut interest rates deeper into negative territory, to changing the size or make up of its quantitative easing asset purchases, to trying to steepen the yield curve or to doing nothing at all.
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"But something interesting did happen at the BOJ and that is they sort of admitted that they're not getting the results that they're hoping for from negative interest rates and indeed they might want to steepen out their yield curve and get to positive interest rates," he said.
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But when it tried that in January, by skipping a five-year bond buying operation, it sent a severe shock through the JGB market, however, causing the yield curve to steepen sharply and forcing the BOJ to conduct a special buying operation last week to calm frayed investor nerves.
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What the recent price gains have done is merely steepen the backwardation of the forward curve, with the front-month contract at a 30 percent premium to the 12-month in early trade on Thursday, up from 20 percent three months ago and 6.5 percent a year ago.
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The Dow Jones Industrial Average plummeted "The yield curve will need to begin to steepen again, led by a rise in longer-maturity yields, to send a more positive long-term signal for the economy and stocks," said Tom Essaye, founder of The Sevens Report, in a note.
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No change in text.) By Jamie McGeever LONDON, Aug 28 (Reuters) - Hedge funds are doubling down on their bets that the U.S. yield curve will steepen, just as it flattens to within 2.083 basis points of inversion, historically a sure-fire indication that the economy is headed for a slowdown.
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The European Central Bank's policy review last Thursday, more hawkish comments from the Fed on Friday, and simmering speculation the Bank of Japan is thinking of ways to steepen its yield curve have rudely confronted investors with what they may have quietly feared all year: Central banks are running out of stimulus options.
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So in our opinion, once there's some resolution on all these trade tensions, we think there's going to be more confidence in the economic outlook and the yield curve's going to steepen, which is going to help the stock," Mark Tepper, president and CEO of Strategic Wealth Partners, said Thursday on "Trading Nation.
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The Bank of Japan, which will also meet the same week as the Fed, is now studying several options to steepen the bond yield curve, say sources familiar with its thinking, as authorities desperately seek out policy tools to revive an economy that has failed to emerge from stagnation despite years of massive stimulus.
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"If the Fed relents later this month and takes off some of those dots, it takes away some of those aggressive rate-hike projections, the yield curve will then stop flattening, it might steepen out a bit, and that would be a sign the economy, at least in the markets' mind, has some more room to run," LaVorgna said.
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Generally, it's thought that central banks can control only short-term interest rates, but the BOJ believes that its own form of quantitative easing will help control the 10-year and steepen the yield curve — that is, increase the difference between the yields of short-term bonds — which are negative in Japan — and long-term bonds.
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The aforementioned ACL injury—which occurred when LaVine came off a stagger screen, caught a pass skidding towards the rim, then landed awkwardly after a mid-air collision with Andre Drummond—will obviously steepen the incline of LaVine's development, and after he returns there will be no capitalizing off Ricky Rubio's brilliant vision, let alone the widening vacuum of attention that Towns and Wiggins demand.
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