🔬 Bond Yields on the Spectrum: From Good to Ugly Dr. Ed Yardeni breaks down the forces driving higher yields, and why this isn’t (yet) the Revenge of the Bond Vigilantes. Despite the recent surge, the 10-year Treasury yield remains below nominal GDP growth. That points more to a rising neutral rate (R*) than a debt crisis. ☑️ Rising R* driven by strong capital spending (especially AI), tighter savings, and better productivity ☑️ Middle East energy shock and yen-carry unwind adding pressure ☑️ True warning sign would be yields rising above nominal GDP growth ☑️ Labor market still resilient but noninflationary—demand and supply nearly perfectly balanced ☑️ Wage growth contained; productivity looking solid Are higher yields mostly a healthy repricing… or the early stages of something uglier? 👉 Dive into the full spectrum analysis and chart collection: 🔗 https://t.co/LEiFJJ7A8m