Gold Pukes As Real Yields Turn Positive, 10Y Inches Close To 3.00%

Gold Pukes As Real Yields Turn Positive, 10Y Inches Close To 3.00%

US 10Y Treasury yields are back near 3.00% this afternoon…

That is the highest yield since Dec 2018, right before Powell flip-flopped away from his hawkish stance…

Source: Bloomberg

At the same time, 10Y real yields have surged back into positive territory…

…for the first time since March 2020…

Source: Bloomberg

Meanwhile, gold is under pressure once again, tumbling below $1900, and below pre-Putin-invasion lows…

Back into the middle of its two-year range…

The equity markets are a shitshow of penny-stock-swings this morning with UK markets closed…

And liquidity near recent record lows…

The question is – when does the bond market start pricing in the imminent recession… and the subsequent flip-flop back to QE?

Tyler Durden
Mon, 05/02/2022 – 12:55

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