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A global buying panic in bonds triggered by more than a little panic-panic in the monetary system.
The payroll report was supposed to be today's sole topic. Instead, it was completely overshadowed first by a global bond buying panic sparked in Asia then carrying over throughout the US trading day. Failure of Silicon Valley Bank isn't the only problem, rather a symptom of the very deflationary money curves have been warning about.
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Recession Is the Most Obvious Answer To All the Inversion
https://www.realclearmarkets.com/articles/2022/12/02/recession_is_the_most_obvious_answer_to_all_the_inversion_867961.html
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