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Jim - - -
Nov 30 20:12 pm
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All Comments by John Lounsbury »Chart of the Week: Yields on U.S. 10-Year Treasury Notes Below 3% [View article]
That is one interpretation (low inflation expectation). Another possibility is simply a flight to safety, which will have a limited life. Once the pent-up demand for stocks that Bill Luby refers to is released, bonds will decline rapidly. In the future, people may refer to the great bond bubble of 2008-2009.
We live in exciting (or frightening) times.
On Nov 30 11:56 AM carey_jim wrote:
> I wonder if the 10-Year Treasury yield is actually telling us something
> about future inflation/deflation?
>
> Historically, very safe bonds are supposed to (Graham and Dodd's
> Security Analysis) yield 3% above inflation and more volatile stocks
> about 5% above inflation.
>
> Could this rate be telling us that investors think US inflation will
> be flat to negative in the next ten years?