Monthly Archives: February 2019

Summary The after-inflation yield of 1.093% was well below the real yield of 1.235% generated at an October auction of the same term. Indirect buyers – meaning big money investors like foreign central banks – bought a record 82% of … Continue reading →

Summary 30-year real yields have been climbing, but remain below levels that would make them “interesting.” The 30-year inflation breakeven rate is currently trending at 1.9%, an attractive number but one that reflects the reality of stubbornly low inflation. Conclusion: … Continue reading →