X @Cathie Wood

One of the more interesting signals in the data right now is that the yield curve continues to flatten despite a significant increase in oil prices on a trailing three-month basis. Historically, in a more traditional economic cycle, an energy shock that is being monetized by the Federal Reserve would steepen the curve, not flatten it. The Fed is not monetizing this energy shock.In our view, the bond market may be beginning to discount something much more powerful: the deflationary impact of artificial intel ...