The current situation of the reverse yield curve resolution is completely different from before, although it is being talked about.

Since last July, the reverse yield curve has been heading toward resolution. As you know, a recession and a stock market crash occur around the resolution of the reverse yield curve. However, normally the reverse yield curve is resolved by a short-term interest rate decline after a rate cut. This time, it is resolved by a long-term interest rate increase. It is better to see this as something different. Rate cuts are still to come.