Chart: $DBB +5.8% (w) industrial metals remain bid โ๏ธ +17.25% (T) but on weakening volume
2e/8
And, of course, we have to mention $LUMBER which has broken bad - not surprising given the ๐ in rates and the effect on housing.
Chart: $LUMBER -17.05% (t), -16.5% (T)
3/8
10Y treasury yields around ๐ ๐ฅ โ๏ธ
This is not normally indicative of growth slowingโฆ but it could just be the markets doing CBs jobs as investors demand +yield given sticky #inflation
Chart: UST 10Y 2.48% ๐บ๐ธ
3a/8
Chart: DET 10Y .59% ๐ฉ๐ช
3b/11
Chart: JPT10Y 0.23% ๐ฏ๐ต
3c/8
UST volatility remains ๐
Chart: MOVE 125.27 ๐ฑ
3d/8
The belly of the curve is threatening the long-end with #inversion raising the specter ๐ of #recession 12-18 months hence