Interest rates are rising, and suddenly so is inflation. It looks as though the economy is poised to rebound, after skirting what Federal Reserve Chairman Alan Greenspan has called a "soft patch."

Since the Fed last eased credit Jan. 31, the yield on the 30-year Treasury "long" bond has soared from 6.02% to nearly 6.5% At the shorter end of the curve, the yield on two-year Treasury notes has moved up from 4.92% to nearly 5.4%.

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