Courtesy of Mish.
Curve Watcher’s Anonymous has its eye on the US treasury yield curve today.
click on chart for sharper image
Chart Symbols
- $TYX: 30-Year
- $TNX: 10-Year
- $FVX: 05-Year
- $IRX: 03-Month
Yields Decline Today
The above table of US Bond Yield changes from Bloomberg.
CPI Up – Treasury Yields Down
With the CPI up more than expected, and with food inflation averaging 3% annually over the last three months (see Food Prices Soar; CPI Posts Biggest Gain in 10 Months; Real Average Earnings Decline) one might have expected yields to rise.
Instead, yields fell. Why?
The US economy is slowing more than expected. Lately, economic surprises have been to the downside. …
