I was amped for the release of Blue Planet II today, but I think this was the best video release of the day.

My favorite thing about this talk is that Housel covers some of the most important investing issues without even talking about investing! Nobody is immune from the challenges and biases that Housel illustrates, so its a great watch for both professional and non-professional investors.

https://youtu.be/_LXzr-Q6HyQ

Following up on my previous post about the 2s10s spread, I should note that the 2s10s is just one of many spreads. Its a benchmark. But you could just as easily look at the 2s5s, 5s30s, 10s30s, and so on. Below are a couple of alternative ways to keep tabs on the shape of the yield curve.

I like the below chart because it allows one to see how various constant maturities move in relation to one another over time. As you can see, the curve flattened during the last two major tightening cycles and so I remain skeptical of those that are calling for long-rate rises to outpace those of short-rate rises.

Another common way to view the shape and history of the yield curve is to simply view it next to previous iterations of itself. See below for an example:

Happy Friday!