The yield on a one-year Treasury bill now exceeds the yield on a 30-year U.S. Treasury bond. That not only confirms #recession, but that investors are confident that #inflation will return to 2% and stay there for 30 years. Bond yields will soar once investors realize the truth.

The yield on a one-year Treasury bill now exceeds the yield on a 30-year U.S. Treasury bond. That not only confirms #recession, but that investors are confident that #inflation will return to 2% and stay there for 30 years. Bond yields will soar once investors realize the truth.

— Peter Schiff (@PeterSchiff) August 3, 2022