Cheap Convexity

Cheap Convexity

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Cheap Convexity
Cheap Convexity
The Clarida Flattener

The Clarida Flattener

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Jon Turek
Sep 06, 2021
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Cheap Convexity
Cheap Convexity
The Clarida Flattener
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August ended up being quite a critical month for Fed speak.

1) Clarida started the month with a fairly hawkish speech at the Peterson Institute. The biggest takeaway from that speech was that the Vice-Chair saw a wind down of the current level of policy accommodation and inevitable rate hike as entirely consistent with the Fed’s new framework. I.e. “FAI…

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