The TLT long-term Treasury bond fund is not looking too good technically, by daily chart.  The uptrend channel is violated, MACD is getting close to red (0-) and RSI and AROON are already red.  Long-term bonds do not like inflation.

Meanwhile, T bond bear TBT has a sneaky bullish look to its daily chart and is on the verge of changing its trend to up (ref. SMA 50).

Declining T bonds and rising long-term yields would go hand in hand with rising inflation expectations.  Let’s check on TIP-TLT for another view…

Yup, it appears that the move in precious metals, led by silver, is coming in concert with an early indication of rising inflation expectations.  I mean, 5+ years of inflation should beget some consequences eventually, right?

Meanwhile, the precious metals move is maturing with respect to the initial burst.  While any move in T bonds and inflation expectations appears to be just getting going.  With the VIX sleeping and market participants either in the Hamptons, at Lake Winnipesaucki or anywhere in between, the eerie backdrop of calm may have a shelf life this summer.