Hello, fellow Rebel Capitals. Hope you're well. So interest rates are tanking down big today,

which is very weird because the CPI report yesterday. So I want to go over the CPI report right now,

because I didn't have time to do that yesterday. I want to talk about what's happening with

interest rates and gold and other assets. And I want to try to connect some dots here throughout this video. So let's

start first and foremost by going over what is happening with the very, the very important 10-year

treasury yield. Boom, let's go over there. Hope we got the screen share working. And we've just gone

straight down since the open.

I mean, we opened up here.

We're down almost six basis points, which doesn't seem like a lot.

But you guys know from watching my videos, that's a pretty big move in the tenure.

Now, the other day when we got the non-farm payroll out, it was down 20 basis points, which is crazy.

But the two year was down even more than that.

Two years down 25 basis points.

We had a massive, massive, massive bull steepener.

And the question becomes, what does that bull steepener tell you? What message are interest rates sending

you the investor right now about the health, or lack there of, of the underlying economy and

growth and inflation expectations? Because you guys know well, your sophisticated rebel capitalists.

You know that unfortunately, the interest rates along the curve aren't so much about supply

expectations, but more so about growth and inflation expectations.

So what we're seeing right here in the 10-year treasury today would tell me growth and

inflation expectations are coming straight down.

And let's go over the two year because, you know, the argument that you get along into the

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