Commodities
Bond Yields Test Decade-Highs, Gold and Bitcoin Pull Back
Gold prices have fallen below their three-month uptrend as U.S. bond yields test levels last seen in 2004 and 2007, while Bitcoin has pulled back from its nine-month high.
The combination of stretched bond yields, elevated dollar strength, and growing geopolitical tensions across key energy-transportation routes may indicate potential market reversals or breakouts, particularly with the U.S. midterm elections approaching.
Key levels to watch on Treasury-yield charts are 5.30% for the 10-year yield and 5.60% for the 30-year yield, which represent important resistance zones that could determine whether yields continue higher or experience a significant reversal.