MBCC TH 30th May'24 - "Its all about the Fed and Bond markets for now, Equities are the least sophisticated asset, they follow, don't lead! Commodities sending their own signals..whats the trade?"

After big moves in the Bond market, US 10 year is at 4.60%, we were trading at 4.75% last fall when SPX was at 4100 and world was worried Bond market collapse and a reluctant Fed would take it all down…

Fast forward to today….is it any different? But also what are actual physical commodity market flows telling us…