Lofty Market-Reversion Risks vs. Volatility Season Whether the stock market, US Treasury 30-year yields and gold can stay at lofty levels on Aug. 18 into year-end may be a top question of 2026. My bias is to heed Bitcoin, the leader since 2009, and the lessons of relative value. If the T-bond yield remains above 2003's mark near 5.07%, 2026 will have the highest year-end level since 2001. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tk0f66vttczw {BI COMD} #gold #Bitcoin #bonds #stockmarket @Bloomberg(Mike McGlone)