Shibboleths of Keynesian Central Bankers Need Not Apply

The WSJ reporters are relentless shills for the Wall Street narrative, as this morning’s headline reminds:

“Real Yields Wade Toward Positive Territory, Denting Stocks”.

Let’s see. The Y/Y inflation rate is 8.6% (CPI) and the 10-year bond yield is 2.8%. Based on unwoke math, that’s a real yield of -580 basis points.