TIPS — that is, 10-year U.S inflation-protected Treasury bonds — have gained 60 basis points this year already

The current shift higher has been driven by real yields — that is nominal yields minus inflation — because there is a fundamental rethink of how high the price gains will be in the next few years.

TIPS — that is, 10-year U.S inflation-protected Treasury bonds — have gained 60 basis points this year already. 

This shows that the market believes central banks have come around too late to control inflation. 

Marcus Ashworth Bloomberg 10 February 2022

https://www.bloomberg.com/opinion/articles/2022-02-10/the-bond-market-s-job-is-to-warn-about-inflation-but-qe-got-in-the-way