10-year yields moving higher; TIPS spread widening out
UPDATE: Treasuries continue to sell off late in the day, with 10-year yields pushing 3.94% at last count. Meanwhile, I had a chance to check out Bill Gross' latest commentary, which is focused on the striking difference between our CPI figures and the inflation figures being reported around the world. It's nothing new to see bureaucrats get savaged about the accuracy of CPI data -- data that doesn't really reflect what we as Americans see in our daily lives. But it's notable to see this kind of critique coming from a guy who oversees the world's largest bond investment firm.