Central Banks vs Bond Markets

  1. Supply and demand now.
  2. Expected future demand and supply.
  3. Expected inflation (more inflation = rising interest rates).
  4. Central bank policy.
  5. Expected central bank policy.
Fed market value of assets in balance sheet
USA M2 money stock
My own estimation of inflationanry pressure. Note that the last year data does NOT yet “contain” GDP growth.
Bond yields: still very low but rising fast…
Doug Polk… the art of bluffing!
CRB index: low level, but high year-on-year change, with lots of upward momentum
Same for oil…
Me climbing in Wyoming — I am Canadian, but I love US climbing spots!



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Pascal Bedard

Pascal Bedard

Sharing thoughts on economics, finance, business, trading, and life lessons. Founder of www.PascalBedard.com