ALERT: US TREASURY YIELDS BLOWING THE FUCK OUT

Good afternoon —

Markets are soft with notable strength in gold/silver. The apprehension is of course in the bond market, where yields are flying again. The US 10yr is +13bps to 4.32%. Once again, we are barreling headlong into peak housing months with restrictive financing. How long can the US economy endure these yields before it CRACKS ASUNDER?

The presumption is forever. However, I suspect it’ll end when I get back into the business and am immediately entreated to broken elevator cable PIN ACTION with limited ways to hedge.

The bias you see today with rampaging higher commodity prices and soaring yields would suggest a renewal in inflation; but I believe the underlying issues are far more insidious.