-
US Yield surge drives steep crude and gold correction
This past week we published our Q4 2023 Outlook titled “Bond. Long Bond(s) in which we look at how an economic slowdown and ‘peak rates’ could push us toward a stagflation lite environment and with that a four-decade opportunity to go long bonds. In the commodity section, we argue that such a development would also likely support investment metals, especially gold which, despite current headwinds from rising yields and a stronger dollar, continues to benefit from central bank demand. The Bloomberg Commodity Total Return Index suffered a sharp reversal during the past week with losses seen across all sectors ... (full story)