For months, the yield curve has been doing what it always does before big commodity and energy moves: it started whispering before price started screaming.

This wasn’t a headline trade.This wasn’t a CPI print trade.This was a...

“These are the times that try men’s souls. The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of their country…”— Thomas Paine, 1776

It’s one of my favorite lines in all of literature — and one of...

Last weekend, the headlines looked like something out of 2008.“Banks Tap Fed Standing Repo Facility in...

In most parts of life, the rule is simple — follow the leader.But in the bond market, the game’s a little different. Here, it’s more like carry the follower.

That’s exactly what we’re seeing play out right now between short term and...

If you want to know where bond yields are going next, don’t start with the Fed. Start with copper.

That might sound strange — one’s a metal, the other’s a number on a screen. But they’re deeply connected. Copper is often...

In case you haven't heard, we're in the midst of a historic bull market. We are talking about the...

Nuclear energy is one of the hottest trades in the market right now, and everyone is talking about it. We were early to this theme.

Back in early May, we highlighted...

When traders get caught up chasing hot stock ideas, it’s easy to forget the bigger picture. 

But if you’re serious about staying on the right side of markets, you need to be watching the long end of the bond market right now.

The...

Secular bull markets often run far longer than consensus expects, and sometimes even longer.

That's what we're currently seeing. Gold futures are poised to close September in the green for the...

Gold miners are surging to new all-time highs, begging Copper miners to...

Last week, we discussed what a great time it is to be a Gold Bug. 

For the first time in history, the yellow metal has closed higher for...

Washington isn’t leaving this one to the free market.

When it comes to the metals that power the clean energy transition and AI - lithium, nickel, cobalt, and rare earths - governments around the world have decided these resources are...

Global 30-Year Yields: One Chart, One Message...

“You have power over your mind — not outside events. Realize this, and you will find strength.” — Marcus Aurelius, Meditations

For four decades, investors lived in a world where...

In this week’s Gold Rush video, we covered a lot of ground. 

We discussed wild moves in Cattle futures, the energy complex, shifting global bond yields and their impact on the macro landscape, and Gold futures surging to...

Gold just made history, and it’s doing so in the most bullish way possible.

After months of one of the ...

For forty years, bond yields trended lower. From the early 1980s until 2020, the 10-year Treasury yield fell through every cycle. 

Each downturn, each policy mistake, was met with the same cure: cut rates, buy bonds, suppress yields...

When Aristotle tutored the young Alexander the Great, he taught him to see the world not just as it was, but as it could be....

Inflation, yields, and the slow death of the last regime.

Today, we have two charts and one message: bond yields are poised to surge.

To understand where yields are headed, don’t start with the Fed - start with commodities...