Bond Yields Are Tumbling As 'Policy Error' Panic Resumes

US Treasury yields are tumbling across the curve this morning (despite a record high PPI print) with the long-end outperforming (30Y -6bps, 2Y -2.5bps).

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This has pushed 30Y Yields down to their lowest since before September's FOMC statement...

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 Which has driven the yield curve (2s30s) to its flattest since Nov 2020...

Flashing a big red warning flag that a Fed policy error is coming.

And the long-end of the curve remains inverted for the 9th straight day...

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 The dollar is down as yields drop... (UUP)

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And gold has rallied back above $1830... (GLD)

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 And of course, cryptos have ripped to new record highs.

Are markets getting nervous that a Fed Chair Brainard will be the doviest dove in dove-land?