Rebel Capitalist News Shocking New Data Causes BIG MOVE In Interest Rates
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Feb 11, 2026 A surprise retail sales print sparks a dramatic drop in Treasury yields and a breakdown of what really moves interest rates. The discussion contrasts labor market signals with GDP and explains why growth and inflation expectations, not debt issuance, drive yields. Historical QE episodes and common gold-bull narratives are challenged. Practical implications for investors are highlighted.
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Retail Sales Shock Cut Yields
- Retail sales missing expectations signaled weaker growth and pushed Treasury yields lower.
- George Gammon argues this confirms the labor market view over GDP strength.
Yields Fell Despite Popular Narratives
- The 10-year and two-year yields fell notably after the data, with the two-year down ~82 bps year-over-year.
- Gammon highlights that headlines often misstate market direction versus actual yield moves.
Growth And Inflation Drive Yields
- Growth and inflation expectations drive Treasury yields more than issuance does.
- Gammon says markets react to future nominal GDP and CPI expectations, not just supply numbers.