ANDREW STUTTAFORD: Treasurys Tremble. “It is hard to deny that some anxiety over inflation is called for. With rates as low (in absolute terms) as they are, and with government debt so high, it is not as if there is much margin for error for bondholders. . . . Let’s put it another (and wildly over-simplified, yet not) way. Would you lend money to Uncle Sam for ten years at that rate? Would you feel well rewarded for the risk that you were taking? The question, I think, answers itself.”