While interest rates for U.S. bonds have been on an absolute tear, they seem to have started to run into some liquidity issues (in other words, no one is showing up to buy treasury bonds because they know yields will keep rising).
Gold
- Gold continues to be range-bound for the month, although it has had similar price swings as bitcoin and equities. Inflation remains stubbornly high in the U.S., which should act as a tailwind for gold, however, this emboldens the Fed to raise interest rates even more, which ends up being a wash.
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