Have US economic growth and inflation rates peaked?

clock • 3 min read

The big story of the second quarter of 2021 was the sharp reversal in the trend of long-term US Treasury rates and US inflation expectations, which both fell, says Eric Stein, Vice President and Chief Investment Officer, Fixed Income at Eaton Vance. Long-term rates fell 25 basis points (bps) during the second quarter, in sharp contrast to their 81-bps rise during the first quarter, while inflation expectations (as measured by the US Treasury breakeven rate) cooled from their May high of 2.54% to 2.32% on June 30. So even if the retracing downward didn't match the first-quarter surge, it ...

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