Tech’s Slowing, Commodities Are Rising—The Market Is Rotating

Portfolio Review: Follow the Yield Curve, Not the Noise—Here’s Our Playbook

Bond yields are telling us everything you need to know about positioning moving forward.

It’s not just about whether yields or interest rates are going up or down—it’s about the yield curve steepening or flattening. That’s what really matters.

Here’s the deal:

• When the yield curve bottomed, commodities bottomed.

• When the yield curve broke above zero for the first time since 2022, commodities started trending higher.