Recently, the 30 year bond rates did break above the downtrend starting in 1987 to today. The rates are now falling. The key trend line now to watch is to see if the uptrend from 2008 can be reversed.
If rates do not resume downtrend, dare I say, inflation is here. So far, I can't make that call, and deflation is the word to use since 2008 primarily.
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