US Treasury markets are suggestive of a cooling economy. Investors expect many rate cuts, as yields on bonds have refused to rise. Lower yields on long-term Treasuries, suggest that there is still a scramble to buy safe assets as volatility in riskier asset classes, specifically shares, will continue with further bouts of pounding. 

Gold is in high demand – a situation that normally presents itself when other assets face trouble. It would be reasonable to assume that investors are no longer exuberant about market conditions, a phase usually associated as a forerunner to a correction. This podcast provides a perspective on commodities, markets and interest rates.