The economy is heating up, giving the US some “Smokestack Lightnin’.”
The US PPI Final Demand Less Foods Energy and Trade Services YoY rose this morning to 2.5%., the highest reading in several years.
And the US Treasury 10-year yield keeps smokin’ as well.
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Treasury price declines have led to losses for investors over the past several weeks.
Instead of “5 Long Years” by The Yardbirds, we have had over 10 years of massive monetary intervention by The Federal Reserve that is finally coming to an end. Or at least we will see at 5pm this afternoon if The Fed tries to unwind their $4.4 trillion balance sheet further.
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