The market focus has started to shift from a reflation trade to a real-yield tantrum. We compare the latest real-yield tantrum with four prior episodes where rate increases were driven by higher real yields, while breakeven rates were flat to lower: 2005, 2013, 2015, and 2018.
Mar
05
2021
Reflation Trade Or Real-Yield Tantrum?
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ReflationLogin
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![Chun Wang / Sr. Research Analyst & Co-Portfolio Manager](https://leuthold.imgix.net/leutholdgroup.com/site_files/authors/DSC_4146_LR_Chun.jpg?h=150&w=150&fit=crop&fp-y=.15)