Global Markets See Inflation Breaking Out to Multiyear Highs
- U.S. 30-year Treasury yield briefly eclipses 2% on Monday
- Fiscal, monetary easing plus vaccines provide potent cocktail
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Global markets from U.S. and European bonds to stocks and oil are sending a clear signal: inflation is finally coming back.
The market-implied pace of U.S. consumer-price increases briefly accelerated to the fastest since 2014, and 30-year Treasury yields temporarily topped 2% for the first time in a year as rising expectations for an economic recovery fueled an oil rally. Over in Europe, a swap-market gauge of future inflation is close to its highest level since 2019.