Real yields: what are they doing, and what does it mean?

Real yields — nominal minus inflation expectations — drive gold and the dollar's attractiveness more than most traders realise. Tracking them explains moves that look puzzling otherwise.

Real yields: what are they doing, and what does it mean? — risk-reward diagram
A risk-reward ratio of 1 to 2

What are you seeing?

  • the real-yield story you're following
  • how it's showing up in gold or the dollar
  • the pairs most sensitive to it
Real yields: what are they doing, and what does it mean? — candlestick anatomy diagram
The parts of a candlestick: wick, body, open and close

Background: what moves the gold price and bond yields.

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