Nominal 10-year Treasury yields have risen to the highest level since 2007. Just when we though the bond sell-off of 2022 was behind us, it came back with a vengeance. Hawkish Federal Open Market Committee (Fed) minutes and a string of positive economic data from the US are casting doubts whether we have reached peak interest rates in the US. The Fed certainly has...
Gold is arguably the most sensitive commodity to monetary policy. The metal operates more like a pseudo-currency than a regular commodity (a regular commodity’s price is driven by the balance of supply and demand, gold is driven by many of the macro determinants of currencies).
After hiking rates every meeting since February 2022, the Federal Reserve (Fed) took a...