Interesting, this guy has been long stocks for a while. Quick reversion, now defensive.

Yields may be the story of the year going forward, but remember, the FED officials have stated they see interest rates remaining unchanged this year, at least from some of the FED voters that have recently been interviewed. Actually, the FED dot plots project rising rates in the future! And the American taxpayer supposedly pays these guys $100,000’s/year, with full pensions. Big pensions. Amazing how out of touch with reality they are. Let free markets work and end the CB’s.

However, counter to his charts, I would argue on longer time frames the $Gold/TLT ratio is about to break up, in favor of gold.

https://allstarcharts.com/heres-buying-us-treasury-bonds/