Niall Ferguson on the recent rise in long term interest rates and his dispute with Paul Krugman (via the FT):
Most commentators were unnerved by this development, coinciding as it did with warnings about the fiscal health of the US. For me, however, it was good news. For it settled a rather public argument between me [...]
Tim Duy has a long post on the yield curve and the recent rise in long term interest rates. I covered a lot of the same ground in three separate posts (see here, here and here) yesterday, but Mr. Duy puts all the pieces together in one unified post:
So we are stuck with two apparently contrasting views. On one [...]
From the WSJ:
With long-end Treasury yields racing higher this week and wreaking havoc on the mortgage bond market, the Federal Reserve might have to tweak its Treasury purchase program sooner rather than later.
To date, the Fed has purchased a little less than half of the $300 billion it has pledged to buy in Treasurys by [...]
The rally in the commodity indices is accelerating:
Like the steepening of the yield curve, this can be interpreted as either positive or negative. Rising commodity prices indicate rising demand and could be an early indicator of recovery. It could also be interpreted as an inflation indicator. More likely it is a little of both. The [...]
