30yr 3mo Targets Inversion

Spread between the 30yr and 3month treasuries is under 1 percent. If the Fed hikes 75 bps, the 3-month still has to price in about 50 bps. My target for a ZB/TLT bounce takes it to early April levels or around 2.50 percent yield, 60 bps below current level. Something can change between now and then, or something will probably change when it gets there. Most inversions happened at market peaks, except in the late 1970s and early 1980s...