Is The US Heading For Stagflation? Inflation Leading To 10Y Treasury Yield UP 10.1 Bps, NASDAQ DOWN -3.31%, WTI Crude DOWN -2%, Gold UP $12 (On Fears Of Fed Overreaction)

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by confoundedinterest17

As I always teach my students, a 10 basis point increase (or decrease) in the 10-year Treasury is significant. Like today’s reaction to the hot, hot, hot inflation report. Remember, the most recent Atlanta Fed GDPNow for Q2 has plunged to 0.9%.

At 11:26am EST, the US Treasury 10-year yield rose 10.1 basis points to 3.142%. But much of Europe is rising over 10 bps today as well.

Stocks? The NASDAQ index is down -3.30% on Fed tightening signals. The FTSE MIB (Italy) is down almost 5%.

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Commodities? WTI Crude oil is down -2% today. At least GOLD and SILVER are up today. Falling oil prices and rising precious metal prices are a warning sign for global slowdown.

Let’s just hope that The Fed doesn’t overreact to inflation like they did with Covid stimulypto.

 

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