After the announcement of expanded long-term Treasury buybacks, the U.S. 30-year yield fell to 5.18% before rebounding to 5.23% the next day. This article breaks down the channels behind the contemporaneous rise in gold and Bitcoin into debt management, the dollar, short covering, and a separate policy catalyst.
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Viewing an economic indicator as a single number can easily create a misleading impression. Learn how to read the economy’s underlying flow by examining the direction and speed of quarter-over-quarter and month-over-month changes, the limits of annualized rates, seasonal adjustment, and the possibility of data revisions.
We examine the measurement scope and calculation methodology of PCE and core PCE, as well as their differences from the consumer price index (CPI). We also explain why the U.S. Federal Reserve targets 2% headline PCE while using core PCE to track underlying inflation trends.
CPI reflects the prices consumers actually experience, while PPI tracks prices at the production stage for businesses. Understanding the difference makes inflation news and interest-rate outlooks much easier to read.
After the announcement of expanded long-term Treasury buybacks, the U.S. 30-year yield fell to 5.18% before rebounding to 5.23% the next day. This article breaks down the channels behind the contemporaneous rise in gold and Bitcoin into debt management, the dollar, short covering, and a separate policy catalyst.
