The US Treasury just auctioned off $35 Billion in 5 year Treasury Notes. $94 Billion in bids were placed.

The high yield was 1.0279%. Nearly $32 Billion worth of the bids were below that. How does that compare with expected inflation over the next five years.

At the beginning of the month it was around 1.5%. Could be lower now, but I am guessing not all the way down to 1.029%.

People are willing to lose money in real terms in order to give it to the US Federal Government. Maybe we should consider giving people what they want?  I’m just saying.

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