WEEKLY WRAP-UP (s2023 e18)

for the week ending Friday, November 10th, 2023

The most interesting part of last week’s action has to be the inflation swap curve. Even though Friday’s University of Michigan Inflation Expectation numbers came in much hotter than expected, inflation swaps have been heading the other way.

A month ago, the 1-year inflation swap was trading at 2.65%, but it went out last week at 2.25%. Folks, we’re only…