The stability paradox

Jim, Evan and Phil hold forth on noteworthy sightings in credit,  while Jim challenges a core premise of modern central banking. 

0:43 #ECB taper announcement

2:36 Taylor Rule funds rate and the flattening yield curve

5:05 The search for “stability”

8:35 Kobe Steel bondholder surprise

9:55 10-year yield at a key level

12:14 The last great #bond bear.  In like a lamb…

14:01 “Unprecedented in degree, persistence and circumstance”

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