As surmised in the subscriber update posted just after the ‘Jobs’ report, jitters about interest rate hikes are bubbling to the surface in the T bond market. This may also be a Straw Man to get people thinking risk ‘OFF’ when it remains ‘ON’, at least by the structure of the yield curve. All maturities are up and people are flying out of short-term liquidity.

10, 5 & 2 year yields from Bloomberg

Here is a view of the 30 and 5 for another stunning visual…

The above are pictures that taken at face value are stocks positive and gold negative.