# Posts

### SF Fed Blog Post on the Yield Curve

Thomas Mertens and I wrote a post for the SF Fed Post on the current shape of the yield curve. This shape is a little odd, to say the least: The conventional ten-year-minus-three-month spread has declined substantially over the last year, but is still positive. By contrast, the five-minus-one-year spread has turned negative. What to make of this? Read the post here: Did the Yield Curve Flip? Will the Economy Dip?

### New version of "Interest Rates Under Falling Stars"

Glenn Rudebusch and I finished a new version of our paper “Interest Rates Under Falling Stars” which includes a lot of new material. Most importantly, we developed a new model for the yield curve that allows for shifting long-run trends and provides a new, fully Bayesian estimate of the equilibrium nominal interest rate $i^\ast$.