TIP - Peter Schiff Flags 'Big Risk' For Stock Market's Record Run Warns Of 'False Belief' About Inflation War | Benzinga
While the Biden administration celebrates victory over inflation and the Federal Reserve has begun to acknowledge inflation is downward trending, an economist on Thursday dismissed the notion more a wish than a reality.
What Happened: Economist and gold bull Peter Schiff said the U.S. is heading toward a major breakdown in long-term Treasuries and a breakout in oil prices.
The yield on the benchmark 10-year Treasury note topped out at 5.021% in late-October 2023 and began to move lower and hit an intra-day low of 3.800% in late December amid hopes that the Fed will unwind its interest rate hikes. Since then, yields have begun to tick up, and are currently at a little over 4%. Bond yield and prices share an inverse relation, and the dip in the bond ...