
The US two-year Treasury yield approached 5% resistance after a sharp repricing of Federal Reserve rate expectations following a US inflation surprise. Gold and silver each fell about 5% since Tuesday morning.
Rising short-term yields and hawkish Fed repricing strengthen the dollar and tighten financial conditions, a headwind for commodity prices generally, though the article's focus is precious metals rather than feed inputs.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.