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10-year Treasury yield climbs above 5.3% to a level not seen in 24 years

122 points · 193 comments · kaycebasques

  1. jsw97 · · focus · HN ↗
    The less reported fact is that TIPS yields are moving in lock step with nominal yields. Breakeven inflation is approximately constant at 2.2-2.3%. So this is not about inflation expectations. It feels like a genuine capital shortage, possibly driven by massive AI-related investment demand.
    1. zeroonetwothree · · focus · HN ↗
      Good point. Maybe it’s higher expected real growth from AI?
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