Boy, those inflation fears are careening out of control, huh? The playbook has always stated, right there in bold, that gold, silver, PM miners, commodities and the broad markets were never going to be allowed to breakout with T bonds threatening to breakdown and every bread crumb following analyst on the planet predicting hyper inflation and tanking T bonds.
Now the picture gets a little more muddied because we are confirming economic deceleration and inflation fears measures have been tamped down.
The yellow highlight on the chart you will recall, came amid a cacophonous environment of inflation hysteria.
You have got to love this.
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