TNX monthly & daily charts

This is the exact condition upon which I am a gold & gold miner bull; Long rates in a bull market (bonds in a bear) and pressure on the Fed to cut the discount rate. Well, gold miners have spent more time running with the global growth bull than against it over the last few years so it follows that many holders are in gold stocks for the "wrong" reasons. So fundamentally we stick to our discipline and hold the core while curling up in a ball, sucking thumb and hoping (awful, awful word in investing/trading) for the best as global gyrations play out. This is why it is repeated often here... "cash is a position and risk management is job 1". Here is the bond market situation viewed through 10 year treasury yields on a monthly & daily basis.