growth.
The rate, which strips out inflation, fell almost six basis points to minus -1.269%. The move was compounded by a lack of trading liquidity, with the 10-year breakeven rate a market proxy for the average annual rate of consumer prices over the next decade edging higher at 2.36%.
Still, it points to souring investor sentiment amid the rapid spread of the delta variant that threatens to derail the economic recovery. And it comes as investors piled into haven assets after a surprise hit to Germany’s business confidence.
That is much better than my chart that shows the REAL 10-year yield t -3.92% and the REAL Freddie Mac 30-year mortgage rate at -2.61. Based on headline CPI YoY.