A few indicators and what they think they can tell us today (with the usual disclaimer that no single day is to be considered exclusively in a vacuum).

Yield spreads are rising (10yr yield rising relative to 2yr) with nominal yields dropping and that combo is unfavorable to the markets.

Here’s the live view of the 30’s and 5’s.  It’s going nowhere since the low in December but looks a little bottomy.  There’s a new word for you chart geek sports fans… bottomy.

Is it any wonder the average gold bug (myself included) is driven half insane in this market?  A trend would be nice but instead what we get are these spikes and whipsaws in the Silver-Gold ratio.  Today’s specimen tested the lows and reversed.  Stay tuned.

Of more importance to regular market and economic participants, the Palladium-Gold ratio continues southward.

Here’s the precarious weekly view (does not include today’s dump) as posted at NFTRH.com this morning.  The funny thing is, I was wondering why PALL-Gold was dropping so hard on a big market up day the other day.  Today I have no such wonderment.

TIP-TLT continues to hang around as a would-be guide to part 2 of an inflation trade bounce.  So far, no go.