The curvature of U.S. bond yields has attracted a lot of press of late. Atlas has written about it in some of our blogs, and the significance of a possible inversion has frequently been a subject of discussion at our Pie Parties. Whatever current shape the curve takes or your choice of maturity, the returns are still positive. That's to be expected, right?
Mario Draghi, the European Central Bank’s (ECB) President, surprised the world yesterday. Growth and inflation targets are not being met in the euro-zone according to the central bank’s latest forecast. Their projections now show growth reaching just 1.1 percent this year, falling from 1.7 percent in their prior prognostication.