Posted inChart of the Day

Tempest in T-bond pot abates

The broad US stock index jumped March 1 by more than 2%, following a strong rally in Asia overnight. So-called “real yields” (the yield on inflation-indexed Treasury bonds) plunged, temporarily allaying investor fears that the Federal Reserve might reduce its massive purchases of US Treasury bonds. Market panic was misplaced, as we declared Feb. 18 […]