A return to the historical norm implies much higher long yields.
The oil embargo that followed the Yom Kippur War ultimately led to the unanchoring of US inflation and forced the Federal Reserve, under Paul Volcker (right), to crush the economy.Foto: Applewhite/AP/NTB
Ethan Wu (FT)
Publisert 22. October 2023, kl. 19.35Oppdatert 22. October 2023, kl. 19.35
