Is It Normal?

We've never had a period where we grew that slow, little over two % for that long of time. The ten year treasure yield since two thousand 12 now, has been below the medium c p i inflation rate in this country about 75% of the time. I tend to believe that the market bonds are being priced right where the market wants to price i day. A persistently ish growth environment like never seen before, in its persistency, has led to a rate structure in the world that's got really low.

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