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Is this the end of the gold rally?
From robinjbrooks.substack.com
Every once in a while, the IMF/WB annual meetings can move markets. That happens when discussion at these meetings coalesces around one particular market move that becomes a singular focus of discussion. The last time this happened was in October 2023, when the 10-year Treasury yield had pushed up near 5 percent in the run-up to those meetings - it’s highest level since 2007 - and no one could figure out why. Every meeting began with the same question: “Why has 10-year gone up so much?” In effect, those meetings became a week-long debate on whether this move made sense. Most people concluded that it didn’t. ... (full story)