o/n and a 'convexity-curve'-'fly' thesis (a different way to bet against vol?)
thebondbeat.substack.com
Good morning. Super short note this morning … On this day in 2020, 10s hit 31.37bps and today, we’ll have a DIPportunity to help Dept of Treasury finance it’s national debt by facilitating the sale of 10s @ nearly 2.00%. To savers this might seem better than 31bps but when adjusted for inflation, well, you’ve heard this story before. Here’s a look at 10yy, DAILY in that context…
o/n and a 'convexity-curve'-'fly' thesis (a different way to bet against vol?)
o/n and a 'convexity-curve'-'fly' thesis (a…
o/n and a 'convexity-curve'-'fly' thesis (a different way to bet against vol?)
Good morning. Super short note this morning … On this day in 2020, 10s hit 31.37bps and today, we’ll have a DIPportunity to help Dept of Treasury finance it’s national debt by facilitating the sale of 10s @ nearly 2.00%. To savers this might seem better than 31bps but when adjusted for inflation, well, you’ve heard this story before. Here’s a look at 10yy, DAILY in that context…