by Gary Tanashian
Kitco
[…] Let’s take a look at the 30yr Treasury yield Continuum from another angle by way of a chart I just found in my list that we used back in those critical days of early 2020 in gauging the coming inflationary recovery (and future inflation problem). I’ve marked it up further today in an effort to tell a story.
My general view of this story is that what people call the “Everything bubble” is actually a long-term bubble in monetary policymaking (you can always count on government from either side of the aisle to auto-stimulate through fiscal policies) that has been periodically interrupted by bubble bursts, liquidity events and inflationary recoveries as our policy heroes swing into action. This continuum of invasive policy is ongoing, but in 2022, after the latest and most extreme policy kick-save ever, the bond market rebelled, and today the trend is gone. Poof!