Posted inChart of the Day

Biden splurge boosts US inflation expectations

Last month’s $1.9 trillion of helicopter money and now a proposed $2.3 billion pork-barrel, er, “infrastructure” handout to the Biden Administration’s political constituencies have launched inflation expectations into the stratosphere. The bond market gives us a straightforward measure of how much inflation (using the Consumer Price Index) investors expect. That’s the difference between the yield […]