Echoes of the 1990s ...

This was the last time we saw cutting into a reasonably robust labour market ...  and the result was the same ... interestingly back then the curve was basically flat until LTCM blew up ...

Oh and BTW ... the same fears about resurgent US inflation were at the heart of that 95 reaction ... 12 months later Greenspan was making speeches aimed at restraining a bull market in stocks ('irrational exuberance') ... and then the DXY went on a massive bull run ..  if Trump sweeps then maybe that's coming next year !