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I Bonds are inflation protected bonds, so the context here is that the high yield on these bonds reinforces the reality that inflation (whether temporary or long-term) is here.


> the high yield on these bonds reinforces the reality that inflation (whether temporary or long-term) is here

Savings Bonds aren't traded. Their yield is calculated by the Treasury from the non-seasonally adjusted Consumer Price Index for all Urban Consumers (CPI-U) for all items, including food and energy. As such, it offers no more information into the future course of inflation than the CPI-U itself.

The data you're looking for are the 10-year breakeven inflation rates [1], which ares calculated from the premium the market places on the Treasury's tradable inflation-protecting bonds [2] and its tradable standard bonds.

[1] https://fred.stlouisfed.org/series/T10YIE

[2] https://www.treasurydirect.gov/indiv/products/prod_tips_glan...




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