Original link: Not for distribution, in whole or in part, without the express written consent of Apollo Global Management, Inc. Why is the yield curve steepening? Because of coming Fed cuts and fiscal challenges / Apollo / Torsten Sløk.
The claim is that even though Fed rate cut may lower short term interest rate, then long term interest rate is likely to go up instead due to huge federal deficit and debt.
That will disaappoint US home buyers as they take 15/20/30 year loans not 3/5/10 year loans.