Latest / The Bear Market Podcast with Fexingo: Surviving Downturns, Buying the Dip, and Long-Term Resilience
How the 10Y-2Y Spread Steepening Changes Risk
Lucas and Luna dig into the yield curve's latest move: on July 15, 2026, the 10-year minus 2-year spread hit 40 basis points, up from 36 just a week earlier. They explain what a steepening curve actually means for risk assets, why it's not the same as an inverted curve, and how bond traders are pricing in a Fed 'regime change' under Chairman Kevin Warsh. Using the S&P 500 at 7,544 and the VIX at 16.50 as context, they discuss which sectors tend to win and lose during steepeners — and why the Russell 2000's recent stagnation may be a subtle warning. Specific examples…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.