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‘This is not inflation’: Economist says expectations are unanchored from reality
Inflation expectations are detaching themselves from reality, meaning markets might be overplaying the rise in U.S. Treasury yields, according to Carl Weinberg, chief economist at High Frequency Economics. Global markets have been rattled in the last 24 hours after the yield on the benchmark U.S. 10-year Treasury note climbed above 1.3% for the first time since February 2020, while the 30-year bond also hit its highest level for a year. Yields move inversely to bond prices. Yields tend to rise with inflation expectations as bond investors start to believe central banks will take their foot off the gas and reduce ... (full story)
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