Why the square wave pulse in the TIPS yield?
My claim here is that TIPs was reacting to the strong deflationary trend in the collapse, especially commodities. We get a square wave because events happen faster than the Fed can react. So that square wave measures the reaction time of the Socialist Monetary Bank in America.
(HT from Money Illusion, who borrowed the chart)
Back to the title. The mother asked the rabbi how much he charges for circumcision. The rabbi replied that he only takes TIPs.
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