Biggest Yield-GDP Gap Since 1966 Shows Room for Bond Pain

Analysts are boosting their growth and inflation forecasts, with Americans on the cusp of getting stimulus checks under President Joe Biden’s $1.9 trillion package. The average projection for nominal gross domestic product hit a 32-year high of 7.6% in Bloomberg surveys. Even after doubling to 1.6% since November, 10-year bond rates can barely keep up with the
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