MBCC TH 12th January'24 - "RRR is now down to critical levels < 700 bln, what will the Fed do? Tick tock...watch US Bond yields, its the shape not the level that matters!"

Alot happening in Bonds as most are focusing on the yield, level is not as important as the shape of the curve.

We explain below and its implications for cross assets and liquidity, the Fed is in a bit of a pickle, equities have no clue what is happening as they are still quoting the 12% eps growth in 24!