With the moderate reading on Consumer Prices earlier this week, and with the price of gold cratering, why is the 10-Year US treasury note declining in price? Wouldn't those who are betting on a rate cut by the fed near the end of the year be cheering a tame inflation report? Wouldn't bullish market participants take note of the gold sell-off? The perversion, and the market is almost always universally perverted, is that interest rates are RISING. That is not a typo, but the 10 year yielded 4.60% last week, and today it is 4.75%. That doesn't square with a fed hell bent on reducing rates later this year.
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