Here’s yesterday’s “Charts of the Day:”
Interesting, while equities are partying this morning (as we expected, at least initially, if inflation came in under expectations), long-term treasury prices (first chart), after an initial surge, seem to have a different take (they will drop when long-term inflation expectations increase), as do inflation swap spreads (they will rise when inflation expectations increase [2, 5 and 10-yr featured])… Hmm….
Same story today, big time! Again, Hmm….