It's crazy that CNBC is now proclaiming that a 2.9% 10-year Treasury yield is a compelling deal for global investors. Even the official CPI, which understates the effects of inflation, is rising by 2.9% per year too. What's so great about a real yield of zero?
— Peter Schiff (@PeterSchiff) August 10, 2018
Yes. And that is if you ignore how much higher housing and related inflation truly is. A yield of zero vis-à-vis inflation means that you just haven’t actively lost money. That is no deal.