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The Right Coast
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Worst Productivity Drop Ever Means More Inflation | MENAFN.COM

By Thomas A. Smith

July inflation was only 8.5% year-on-year vs. 9.1% year-on-year in June, mainly because energy prices fell on the month. In the hope that fading inflation would slow the Federal Reserve’s monetary tightening, the 30-year US Treasury bond yield dropped for about 10 minutes.

Traders decided that the light at the end of the tunnel was probably the headlamp of the oncoming express, and the 30-year bond yield snapped back.

via menafn.com

Ugh.