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Surge in U.S. short-term bond yields no reason to panic

U.S. T-bills rose 113 per cent yesterday! Run for your lives! Weimar-era hyperinflation is upon us!

Eh, not really. There’s actually not a lot to worry about. Yet.

This chart shows the performance of the one-month U.S. Treasury bill as well as the three-month bill. Tuesday’s yield spike certainly looks dramatic, but in nominal terms, the climb was only about 15 basis points.