Oil prices down big again. A lot more contango, too. Bond buying remains heavy and while not quite to the bull steepening it's moving in on that key point. All signs point to lower rates ahead, but isn't that a good thing? That's what we're supposed to believe...

Eurodollar University's Money & Macro Analysis

Ben Bernanke: Before the Joint Economic Committee, U.S. Congress April 2008
https://www.federalreserve.gov/newsevents/testimony/bernanke20080402a.htm

CNBC: Bernanke Says US Could Be Facing A Mild Recession
https://www.cnbc.com/2008/04/10/bernanke-says-us-could-be-facing-a-mild-recession.html

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