US 10Y yield is consolidating like a descending triangle, this implies a bearish breakout is imminent. There is no fear of a dollar collapse, so no fear bonds will collapse, therefore high probability the 10Y yield will fall. Plus the economy will contract further, a debt deflation is underway, the massive amount of debt in the system will weigh on the economic recovery and companies are borrowing more to stay alive. This is deflationary and bearish for the 10Y yield. This is bullish for gold.
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