Real yields provide a clearer picture of the returns investors can expect from an investment. By stripping out the effects of inflation and removing any time-value distortion of money, real yields more accurately reflect the actual rate of return you will earn.

David Belle

The bond market is the defining factor in judging what is going on in the market, and looking at bond yields, specifically the US 2s10s curve (the spread between the US 10 year treasury yield and the 2 year) can give us a shining light into how risks are priced and what is next for the real economy.

David Belle