-
Ron Insana: The bond market agrees with the Federal Reserve — inflation is temporary
Merriam-Webster’s Dictionary defines “transitory” as “of brief duration,” while Oxford Languages defines it even more simply: “not permanent.” It would appear the bond market views inflation as “transitory,” as measured by the recent plunge in 10-year Treasury yields. Last week, the yield slipped as low as 1.25% — slumping to its lowest levels since February. We’re seeing global yields fall, as well, suggesting a few things: Inflation has peaked. The rate of economic growth has peaked at home and abroad, as well. Investors, of all stripes, foreign and domestic, are offsetting their exposure to ... (full story)