It used to be that higher inflation meant higher rates, period. That changed abruptly beginning in 2011. The combination of global financial panic and unconventional monetary policy helped rates plummet even as inflation recovered from its post-meltdown lows. The longstanding correlation seemed to have broken, but it’s beginning to look like it has merely been dormant.
Source: Kevin Litwicki Universal Lending
Inflation is Just One of Rates' Multiple Personalities