Ed Bradford(@Fullcarry):Regular reminder there is nothing that unusual about current long-end pricing. Yield spread to overnight rates through thick and thin have averaged higher than they are currently. Yes, it's a stunning reversal from QE/ZIRP negative real rates, but this is just old normal stuff

Ed Bradford

@Fullcarry

US government bond trader since '93 with the usual stints along the way at primary dealers and HFs. Now on my own. Pseudonym

参加 February 2009

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Ed Bradford@Fullcarry

2026.08.18 12:32

Regular reminder there is nothing that unusual about current long-end pricing. Yield spread to overnight rates through thick and thin have averaged higher than they are currently. Yes, it's a stunning reversal from QE/ZIRP negative real rates, but this is just old normal stuff