Rates & Bonds · Macro
Curve Trades
Betting on the shape of the yield curve rather than its level: steepeners and flatteners, bull and bear moves, DV01-neutral sizing, carry and roll-down, the 2022–24 inversion, and how macro views turn into curve positions.
Step 1 of 6 · Overview35 min read ·
Key idea
Prereqs: Yield curve; Duration & DV01; Fixed income math. Next: Macro for traders. Sources: Tuckman & Serrat's *Fixed Income Securities*, Ryan O'Connell, US Treasury yield data.Not investment advice. Education only; these instruments can lose money quickly.
Next: 1. Shapes and moves