S&P’s back to May 1st level, but where were other key indices on

Ahead of the reopening of the 10 yr bond auction and with the S&P’s back to where they were on May 1st, we can compare where interest rates, inflation expectations, the US$ and the CRB index were on May 1st with today’s level in the S&P’s in order to gauge the impact of treasury supply in addition to quantitative easing and growth expectations and its influence on rates. On May 1st the 10 yr bond yield closed at 3.16% vs 3.40% today, the implied inflation rate was at 1.41% vs 1.58% today, the US$ index was at 84.55 vs 80.74 today and the CRB index was at 229 vs 234 today.

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