Last week, the CPI was reported higher than expected at 6.8% year over year, the highest rate in 39 years. October CPI versus September was up 0.8%, which if annualized is a rate of 9.6%. The bond market is taking all this extremely well, with the yield on the 10-Year Treasury of 1.42%. It is expected when the Federal Reserve meets on Wednesday, they will accelerate the tapering by reducing the purchases by double from the last meeting.