Nick, thank you for brilliant article. Now it is pretty clear how you look at the rates. Considering 10s-30s and 2s-30s - seems like 2021 year is similiar to 1992 year. While 10s-30s was falling with 30s-02s was rising in 2018 - 2021 - the market was very turbulent. The same happened in 1989-1992. In 1992 reversal of 10s-30s followed by reversal of 2s-30s. Both 1992 and 2021 are 10 years after big commodity cycles - 1970-1980 and 2000-2010.
Nick, thank you for brilliant article. Now it is pretty clear how you look at the rates. Considering 10s-30s and 2s-30s - seems like 2021 year is similiar to 1992 year. While 10s-30s was falling with 30s-02s was rising in 2018 - 2021 - the market was very turbulent. The same happened in 1989-1992. In 1992 reversal of 10s-30s followed by reversal of 2s-30s. Both 1992 and 2021 are 10 years after big commodity cycles - 1970-1980 and 2000-2010.