4 4.85 5.15 percent today.
As I have been saying, commodities (and to a lesser extent everything else) will go on a tear as long as 1) the PBOC ignores inflation; and 2) private bankers and their paleo-Keynesian gentrified-intelligentsia enablers determine that “maintaining demand must be the over-arching economic priority.”
In the meantime, Israel’s civilian leadership, with the exception of Bibi Netanyahu, is totally discredited, and it has been totally blindsided and cornered. If Israel announces a “national emergency government” coincident with an anticipated Gaza offensive, things are going to get really ugly far beyond Gaza. (but fantastic for oil traders)
If it were up to me, I’d follow the well-informed hot money. The stagflationary writing is on the wall, notwithstanding the increasing likelihood of a near-term reflationary “boom.”
Just stay out of bonds, and you’ll probably be fine.