kind of, the only thing you are missing is that macroeconomic trend is in play no matter what the catalyst turned out to be the yield curve flattening was a bi

kind of, the only thing you are missing is that macroeconomic trend is in play no matter what the catalyst turned out to be the yield curve flattening was a big headline long before and seen as a bearish sign, its not important that COVID spooked everyone to selloff and its not interesting that Congress and the Fed stepped in because of that. All the monetary policy and the fiscal policy decisions were written in advance and just placed on Congress’s desk when they were scrambling for a solution. 5,000 page bills werent just made overnight. the entire game is to put your losses on the balance sheet of the biggest whale in the market (a sovereign with no consequence) and keep all the profits for yourself, and reaching a place in society where that is practical. there is no andrew jackson to dismantle the central bank for the specific reason he dismantled the first one. so the outcome is always predictable, the cause and effect is easy to understand. the mechanism that all central banks (except china’s) use to flood the market with cash is by purchasing an ever expanding universe of bonds, with pushes the bond price up and interest rates of those bonds down.