Cheap Convexity

Cheap Convexity

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Cheap Convexity
Cheap Convexity
Is the Summers Residual here to Stay?

Is the Summers Residual here to Stay?

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Jon Turek
May 03, 2021
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Cheap Convexity
Cheap Convexity
Is the Summers Residual here to Stay?
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One of the key market themes over the past few weeks has been this transition from a growth re-rate to an inflation re-rate. The idea being, the market is now very comfortable where economic growth is going to be, so upside data prints end up having more of an effect on the inflation side. The market shifted its focus from 7% real GDP to the “Summers re…

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