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Mike Shedlock, author / blogger at MishTalk, highlights that the yield on long-dated bonds has surged to its highest level in 22 years.
According to Shedlock, the move was triggered by the S&P PMI, which showed sharp price increases and reported shortages.
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Shedlock previously reported a 0.4% rise in the August consumer price index and indicated that a September Fed interest rate hike was likely. He has also argued that political factors, not just inflation data, could drive Fed policy decisions. These observations provide context for his latest commentary on rising bond yields.