My apologies for suggesting you voted for Trump, I guess you didn't vote. In Australia it's an offense not to vote so I assumed you had, forgot it's optional in the US. Pity.
The bond yield does predict inflation. It's like Newton's Law for the stock markets.
Relationship Between Bond Yields and Inflation
1. Inflation Expectations:
• Bond yields often rise when investors expect higher inflation in the future.
• This is because inflation erodes the purchasing power of fixed-income payments from bonds, so investors demand higher yields as compensation.
2. Monetary Policy:
• Rising yields can also reflect expectations that the Federal Reserve will raise interest rates to combat inflation.
• Higher policy rates typically lead to higher bond yields, especially on longer-term bonds like the 10-year.