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Economists may warn that the combination of Trump’s protectionism, big tax cuts, and uncontrolled government borrowing, 

coming at a time when the US economy is already near full employment, will ultimately fuel inflationary pressure. 

This rule of thumb implies 30-year rates in the 4-5% range.

But financial markets simply do not believe this message.

Anatole Kaletskys Project Syndicate 27 March 2018

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