US 30-year #
bond# yields just hit 5.3% (๐๐) โ a level not seen since 2004.
Meanwhile, 30-year inflation expectations are still pricing in just 2.2%, despite actual inflation averaging 4.1% since 2020. Something doesn't add up.
#
Gold# might be telling the story that TIPS aren't.
In this week's Multi-Asset Investor,
@AtlasPulse ask: has gold become the risk-free rate? Article link in first reply ๐