Today's animal spirits is brought to you by our friends at Y-charts checking out the

trailing 12-month inflation rate on Y-charts. Tucked it in their US inflation rate.

They have chat put on Y-charts.

The government inflation rate probably manipulated 4.99% over the last year, which is the highest

it briefly touched above 5% in 2008 right before the crash. I think that was basically oil

going to $150 a barrel. But before then, the highest it's been since like 1991 when it hit

6%. So inflation is much higher. And then, okay, I have the new Star Wars meme I'm trying to

stay hip here. My inflation is the highest been in over a decade. And now the report says,

so Bony is a rising, right? Wait, Bony is a rising, right? No, it's not. So I typed in,

is this the new meme format? Because this movie's got to be 20 years old. Yeah, I know. And they're

all pretty bad too, right? The prequels. Anyway, so I like to look at the obviously it's not just

one interest rate you look at. So on Y-charts, you can type in the 30 year, the 20 year, the 10 year,

7521. And I put in all those ones and that gives you the yield curve. So I love this chart because it

shows how different rates change over time. They're not always moving in concert with one another. But

30 year treasury rate is now under 2%. The 20 years has been there to the 10 years under 1.5%.

All of these interest rates are rolling over again, even though inflation is 5%. Just something

for everyone here. And short term interest rates obviously are not budging. So we've got a flattening

of the curve as they say. Yes. So I love creating this chart here where you look at the different

positioning of the yield curve. Pretty easy to do on Y-charts. Go to Y-charts if you haven't signed

up yet. Tell them annual spirits and you need to 20% off your first subscription.

Welcome to Animal Spirits, a show about markets, life and investing. Join Michael Batnik and Ben

Carlson as they talk about what they're reading, writing and watching.

...