I don't think this latest housing information is just a data point: I think it is one of many data points toward a slowing, if not recessionary, economy. I'm not suggesting rushing into long bonds (20-30 years), but I think those who are sticking to T-bills or the equivalent, waiting for 5-10 year rates to go up will probably regret it. I still think, in a few years, the debt level will come home to roost. I'm not changing my mind about using some 1,2,3 year CDs to fix my ladder, now instead of later.I think the Fed is going to be in a bind. I agree what is causing inflation is not what goes into core inflation and we are likely to have inflation and economic stagnation at the same time, though I don't think like the '70s. ******************************Personally, I don't think that it is worth the risk. Floaters and TIPS are about all I find attractive, assuming we are at serious risk for stagflation.
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