Man of Myth and Legend
I think someone around here predicted this might happen. Might reassess your investments.
Published 2 hours ago
Biden's trillion-dollar spending may restore inflation missing since '08 crisis
'The tide is about to turn' in a long-running bull market for bonds
By Jonathan Garber FOX Business
President-elect Joe Biden's promise to spend trillions could bring back a healthy level of inflation that has been lacking since the 2008 financial crisis and put an end to the nearly 40-year bull market in bonds.
Biden unveiled the details Thursday of a $1.9 trillion COVID-19 relief package, the opening gambit in a two-year stretch in which Democrats are likely to have few restraints on their spendingc priorities, with the party controlling both the House and the Senate along with the presidency.
"I think the [inflation] tide is about to turn and the higher inflation provides a basis for the 10-year yield rising" for U.S. Treasurys, said Sri Kumar, president of the Santa Monica, California-based Sri Kumar Global Strategies, pointing to the Biden administration's plans to spend money to help support lower-income groups.