Never really knowing it was always mesh and lace
--Modern English
Related to the previous post, what is the Treasury market telling us here? 10 yr yields have been falling, and today gapped lower south of 3%.
On the surface, this suggests an intensifying 'risk off' deflationary context.
Then again, this market is so manipulated that any signal may be drowned in noise...
no positions
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
1 comment:
Rather than a problem to be dreaded and combatted, falling prices through increased production is a wonderful long-run tendency of untrammelled capitalism. The trend of the Industrial Revolution in the West was falling prices, which spread an increased standard of living to every person; falling costs, which maintained general profitability of business; and stable monetary wage rates—which reflected steadily increasing real wages in terms of purchasing power. This is a process to be hailed and welcomed rather than to be stamped out.
~Murray Rothbard
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