This is very strange. Global Treasury Yields just rose to a 15-year high (2008). This is primarily due to Central Bank moneta
![](https://confoundedinterestnet.files.wordpress.com/2023/08/globalbondyoields.png?w=1024)
And REAL 10-year Treasury yields also the highest since 2009.
![](https://confoundedinterestnet.files.wordpress.com/2023/08/real10yyield.png?w=995)
At the same time, US industrial production is at the same level as pre-financial crisis (2007). Despite Federal Reserve monetary stimulypto (remember, The Fed’s balance sheet remains abouve $8 trillion.
![](https://confoundedinterestnet.files.wordpress.com/2023/08/usinsuryddddd.png?w=1024)
This is Obama/Biden/Yellenomics. Trillions of dollars of fiscal (green) stimulus and monetary stimulus only to have industrial production be at the same level BEFORE The Great Recession and financial crisis.
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