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10-year Treasury note climbed above 1.3% for the first time since February 2020, while the 30-year bond also hit its highest level for a year. Traders on the floor of the New York Stock Exchange Inflation expectations are detaching themselves from reality, meaning markets might be overplaying the rise in U.S. Treasury yields , according to Carl Weinberg, chief economist at High Frequency Economics. Global markets have been rattled in the last 24 hours after the yield on the benchmark U.S. 10-year Treasury note climbed above 1.3% for the first time since February 2020, while the 30-year bond also hit its highest level for a year. Yields move inversely to bond prices. Yields tend to rise with inflation expectations as bond investors start to believe central banks will take their foot off the gas and reduce their asset purchases. Higher yields can also mean more debt servicing for major firms, which tends to knock stock markets as traders reassess the environment for investing. Market expectations for U.S. inflation rates have reached their highest levels in a decade, driven by increased prospects of a large fiscal package, progress on vaccine rollouts and pent-up consumer demand. However, Weinberg suggested that the anticipated rise in inflation expectations was something of a red herring when faced with the economic realities. "That is what I think is the big concern right now, the unanchoring of inflation expectations. An important element in inflation are wages and people getting higher wages during a time of still very high unemployment and still a lot of slack in the economy," he told CNBC's "Squawk Box Europe" on Wednesday. "That would be a sign that an inflation process has begun, but we see no indication of that whatsoever. What we see is the perception of inflation being fueled by energy prices." Weinberg contended that members of the public experiencing higher fuel prices at the pump might begin to behave as though inflation is occurring, and noted a sharp rise in the price of Brent crude since November as a catalyst for this. "We are going to see maybe as much as 2.75 percentage points added to headline increases in CPI (consumer price index inflation), headline inflation rates in the eyes of people. But increases in CPI are not inflation and this is not inflation," he said, projecting that the base effect of rising energy costs and the increase in inflation expectations will "work out of the numbers" by year-end. "We are getting back to normal from a depressed base, we are not in a realm anywhere close to where true inflation is in sight." The inflation increase 'will not persist' Weinberg's skepticism was echoed by Mark Haefele, chief investment officer at UBS Global Wealth Management, who said in a note Wednesday that while a near-term rise in inflation is likely, there is no sign of the sustained upward price pressure that would force the U.S.

https://www.cnbc.com/2021/02/17/this-is-not-inflation-economist-says-expectations-are-unanchored-from-reality.html

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12 , 13 Finally, sometimes medical devices are created spontaneously without preparation or testing (in other words, they are improvised) to meet an unmet need in the absence of an approved device. For example, the modified circle ventilatory support system was developed to reduce oxygen requirements during long-distance transportation of ventilated patients. 14 Using the inhaled nitric oxide (iNO) delivery system (an FDA class II medical device) in neonatal critical care as an example, this paper aims to raise awareness of dangers associated with unapproved modification and interfacing medical devices and to highlight the rationale for stringent validation processes that ensure interfaced medical devices perform as intended. Potential Risks Associated with Improvised Use of Connected Medical Devices Regulatory standards for the correct use of connected medical devices ensure that these devices are safely and effectively interfaced or connected in the clinical setting. 1 , 2 Nonstandard, improvised connections have been described as fixes that are not rigorously tested in the laboratory or clinic over long periods of time to ensure that the modified medical devices function correctly and meet the original manufacturer’s specifications and regulatory standards. 15 Furthermore, as a consequence of introducing an unknown set of variables into the operation of the medical device system, improvised connections may hide a design flaw, or delay needed repair or replacement. 9 Improvised connections between devices have been shown to lead to potentially catastrophic safety events for patients, as well as liability concerns for health care providers and institutions. 15 , 16 The Joint Commission (formerly the Joint Commission on Accreditation of Healthcare Organizations) has reported tubing misconnections to be a major cause of severe patient injury and death, particularly in cases where universal luer connectors (designed to connect unrelated delivery systems) and improvised adapters (eg, using tubing or catheters) are used to make on-site modifications to medical device equipment. 16 , 17 Ensuring proper tubing connections between devices is particularly important in neonatal settings. 18 , 19 In 2006, The Joint Commission reported more than 300 cases of tubing misconnections: IV infusions connected to epidural lines (or vice versa); bladder irrigation solutions and enteral feeding solutions connected to peripheral or central IV catheters; IV infusions connected to indwelling bladder catheters and nasogastric tubes; IV solutions administered via tracheostomy cuff inflation tubes, pulmonary artery catheters, dialysis catheters, and others; and IV blood products transfused with primary IV tubing. 18 , 19 Results of a literature review found 116 published case studies related to misconnections of feeding tubes intended for enteral lines to IV lines, many of which ultimately led to death (n=21), sepsis (n=16), renal impairment (n=8), respiratory arrest/distress (n=2), and neurologic damage (n=2). 20 In these reports, the ease of interchangeable couplings was considered the key driver of the misconnections resulting in a “fundamental failure to protect patients.” 19 , 20 The consequences of connection errors and improvised systems can also extend to respiratory devices. Until recently, the lack of an approved delivery system for the helium-oxygen mixture heliox required modification of devices that were not designed for the delivery of heliox. 15 These modified systems increased the risk of anoxia and delivery of abnormally large tidal volume because of incompatible flow meters that were not designed to measure heliox. 15 Delivery of inhaled epoprostenol through a non-standardized device has also been associated with a serious adverse event, resulting from a diluent reaction whereby the aerosol became sticky, causing the exhaust valve on the device to stick and malfunction and lead to substantial auto-positive end-expiratory pressure and hypotension. 21 , 22 In fact, a recent report by the ECRI (formerly known as the Emergency Care Research Institute) alerted healthcare providers to potential harms to patients associated with off-label administration of epoprostenol via an IV infusion pump connected to a nebulizer for inhalation of epoprostenol. 23 The report emphasized that this improper connection could lead to numerous sources of error and potential patient harms, including those associated with lack of device alarms or monitors to alert clinicians if therapy is interrupted, the potential for inadvertent connection of the infusion pump to the patient’s IV line (which could cause overdose and catastrophic hypotension), potential ventilator malfunction due to the sticky properties of epoprostenol (potential for pneumothorax or other patient injuries), to name a few. Mislabeling of connections on interfaced devices can also result in device malfunctions. For example, in one reported case, mislabeling of the inspiratory limb of an anesthesia machine interfaced with an iNO delivery device caused the abrupt cessation of iNO therapy in a postsurgical cardiac patient; the expiratory and inspiratory limb labels on the anesthesia machine were transposed, and the iNO system was attached to the expiratory limb rather than the inspiratory limb. 24 In this case, the source of the error was quickly identified and corrected before rebound pulmonary hypertension associated with the abrupt discontinuation of iNO 25–27 could occur.

https://www.dovepress.com/compatibility-and-safety-implications-associated-with-interfacing-medi-peer-reviewed-fulltext-article-MDER