Long Rates Spike as Confidence Keeps Sliding – Dollar Rallies While Crude and Heating Oil Correct
Long rates jumped 16 bp as U.S. confidence kept sliding. The dollar rallied four days out of five while crude and heating oil sold off hard. Treasuries, currencies, metals, and risk assets all reacted.
Source: Peak Prosperity
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DW NOTE
The 10-year yield jumped 16 basis points while consumer confidence fell — a combination that only makes sense if markets have stopped believing the Fed can contain inflation without breaking something structural. When long rates spike during a confidence collapse, you're watching the bond market price in fiscal dominance, not growth optimism.