Bonds Reverse, Metals Attempting to Rally
The Treasury bonds had been on a major rally pushing yields down to 7-month lows but that came to a halt after Super Mario spoke on Tuesday. His comments reversed the bond futures, pushing yields higher, a trend which as continuing into Wednesday. However, the simple facts are the bonds are overpriced and yields are too low.
Metals are trying to find support and make another run to their recent highs but trade has been lackluster and uneventful. This type of trade gives us more reason to believe a big move is coming to the upside.