Breakeven 10Y Rate Above 3%, Highest In History!

The U.S. breakeven 10 year (USGGBE10 Index) went above 3% for the first time EVER.

Breakeven inflation is the difference between the nominal yield on a fixed-rate investment and the real yield (fixed spread) on an inflation-linked investment of similar maturity and credit quality.

But look at 30-year mortgage rates!

Way to go, Joe!