From election day, five year inflation breakeven up 33 bps; EPU up 231. What could go wrong?
Figure 1: Top graph – EPU (blue), 7 day centered moving average (red); bottom graph – five year Treasury-TIPS breakeven (blue), and KKW estimate of five year inflation (red), both in %. Source: policyuncertainty.com and Treasury via FRED and author’s calculations.
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