If You Are Counting On Inflation Expectations to Lift U.S. Equities à la Japan You'd Better Look at This Chart

The ten-year breakeven has been trending up for the last three months but it is still some ways from an new intermediate-term high.
From ZeroHedge:

...As Barclays' Jordan Kotick notes, perhaps it is inflation break-evens lack of confirmation of new equity highs that is the chart to watch for the 'believers' to really think this time is different.
Breakevens are NOT making new highs...

even as stock valuations are...