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Van Hoisington commentary


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I see that they're sticking to their previously expressed views on long term treasuries. "Four percent nominal rate, one percent current inflation, therefore treasuries will rise over coming months/years." 


These guys are way smart, so they know about the central importance of inflation expectations and they know that the current year's inflation means bugger-all for a long term treasury.  Despite QE2, they still seem to think that deleveraging will drive low inflation or disinflation.  Interesting.


Let's see what Prem & co do.



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