Flattening The Curve
Remember just a little under a year ago we were told that all that was needed to get back to normal was a 2-week lockdown in order to ‘flatten the curve’? Those were the days! But no worries, we are most definitely NOT going to bitch about the COVID crisis today. Instead let’s be productive and go over two exotic concepts that are usually relegated to a small group of insiders active in the commodities futures market: Backwardation and roll-yield.