Meanwhile, Back on Planet Wall Street

The 10-year T-bond yield (^TNX) is at a 46-month low. This brings us to Elfenbein's Rule of Financial Journalism #11587: You will never hear the words and "bonds" and "bubble" used in apposition in any financial media anywhere at anytime. The bond market is always assumed to be right.

The headline CPI rose 4.31% from November 2006 to November 2007 (the most recent data). That's over 50 basis points above the current 10-year yield.

Posted by edelfenbein at January 9, 2008 1:53 PM