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These key signals have rarely been seen before. This one is unprecedented.
We need to review the lessons of Bear Stearns and not just because it is the 15th anniversary of that firm's final day as an independent. The parallels go way beyond a single bank failure like Silicon Valley Bank. Comparing the recent meltdown in curves to what happened back then in the context of those Bear lessons is instructive and unnerving.
Eurodollar University's Money & Macro Analysis
FOMC Transcript March 10, 2008
https://www.federalreserve.gov/monetarypolicy/files/FOMC20080310confcall.pdf
FOMC Transcript March 18, 2008…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.