Gold’s Drop Was the Easy Story. The Bond Market’s Non-Reaction Is the Real One. - GoldSilver
Gold’s Drop Was the Easy Story. The Bond Market’s Non-Reaction Is the Real One. - GoldSilver
Source: GoldSilver
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DW NOTE
The Treasury market just watched gold fall 16% from its January peak while oil surged 21% in a month with the Strait of Hormuz closed for 189 days, and 10-year yields moved... 79 basis points. That's not calm, that's catatonia. When bond markets stop pricing obvious inflation risk, they're either pricing something worse or they've stopped pricing altogether.