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Consumer prices increased 5.4% in June from a year earlier, as measured by CPI, which was the biggest monthly gain since August 2008. PPI jumped 7.3% on a year-over-year basis, which was a new record. One would normally expect the yields on bonds to rise in tandem, if not exceed these numbers. Yet, we find the 10-year Treasury at 1.29% and the long bond at 1.92%.
...read full article on Seeking Alpha
