A good friend used to say that **IF** the majority were right, the majority would be rich and on that note, CNBCs fed survey fun-ter-tainment says most respondents believe supply chain pressures are to blame for inflation.
Buried in the actual survey is this chart of 10yy expectations:
Make of that whatever you want but seems to ME to be quite a bearish take on where yields are going. 10yy are nearer to 1.45 best I reckon and so far, the bond market isn’t playing ball.
Said another way, the PAIN TRADE is for rates to continue grinding about here (or lower, flatter curve). But what do I know. Back TO CNBC where you’ll ALSO find Bob Farrell’s rules for investing. I believe #9 is appropriate…