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July 14, 2021

The decline in the yield of the 10-year Treasury could be looked at as an indication that the outlook for growth and inflation are falling. The cross-asset class indicators we track are not confirming this view, even at the recent lows.

The U.S. 10-year Treasury yield peaked on March 31st at 1.75% and has been steadily decreasing, with the pace accelerating in June.  The yield briefly dropped below an important trend level of 1.30%, then ended the week at 1.36%.     Source: Koyfin. This was being reported as a potential sign that the outlook for economic...
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