Still, as shown on the left, in black, inflation expectations as expressed by the US-10-year breakeven rate–the difference between 10-year Treasury Bond and Treasury Inflation-Protected Securities (TIPS)–reached the highest in March since 2012.
The Bloomberg clip below from March gives a taste of the recent consensus.
The debate over inflation is drawing new battle lines in Washington and on Wall Street. Some investors and economists think record-setting government spending will send prices rising too far, too fast, but history suggests otherwise. Here is a direct video link.
As shown below from Jesse Felder and explained in Macro, risks to the stock market are mounting; the rate of change over the past 12 months (red line below) in the US 10-year treasury yield (shown in blue) is already unprecedented. The seven much-lesser back-ups in yield since 1986 triggered episodes of instability in the financial system that prompted risk-aversion, and then more central bank
Market Surges Back To Overbought As Investors Go All In
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09Apr2021 Pre-Market Commentary: Gold Prices Pull Back 1739 , As Dollar 92 31, Rises To End The Week, DOW Up 76 Points, Nasdaq Down 0 3%, Silver Slips 25 07, SP 500 Expected To Record New Highs
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