Includes “… Inflation is bad for bond prices and should raise yields. But bond indifference is not unexpected. … It should all be temporary. But we can’t be completely relaxed. … Second, there is a lot of price-insensitive demand for US government bonds, and yields may not be able to meet inflation concerns. … And yeah, on top of that the Federal Reserve buys $ 80 billion in government bonds a month. … So if the 10-year Treasury yield doesn’t tell you much, what am I doing to make a living? …”

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