This refers to the matter of ‘collective goods’ (or in economic terms, ‘public goods’) ‘which cannot be safeguarded simply by market forces’ (Centesimus annus, 40), but can at least in part be traced back to these forces with measures that incorporate the collective value into individual prices. Allow me to refer once again to the observations made light-heartedly, in my ‘Conversing about Dante’. 21.
But these movements can be hard to interpret, as at times they may reflect factors other than inflation expectations, such as changes in demand for the unparalleled liquidity of nominal Treasury securities.