Economist David Rosenberg believes the bond market is getting inflation right and yields shouldn’t trade at higher levels.
His reasoning: Inflation as a temporary phenomenon caused by enormous pent-up demand and supply chain issues connected to the coronavirus pandemic.
“The numbers have been shocking to the upside, no doubt about it. But it’s pretty easily explainable,” the Rosenberg Research president told CNBC’s “Trading Nation” on Friday. “I don’t understand why people want to superimpose these last couple of months into the future.”
So far, the bond market is shrugging off inflation. The benchmark 10-year Treasury Note yield hit its lowest level since March 3 on Friday and closed at…