There's just something about the chart that is calling for broader markets to pay attention in my view.
And that is well worth noting as we are seeing the downside channel over the past three decades start to crack in a more significant way.Is the bond bubble finally popping? Has leverage gone too far?Those are two big questions that have significant repercussions for broader markets. As things stand, if yields continue to surge higher then tech stocks and equities sentiment may not find much comfort. In that instance, cash – the dollar more specifically – is king.We certainly got a taste of that yesterday.The key focus in markets continue to center around inflation and central bank tightening. The former is like a wildfire spreading uncontrollably while the latter is still fueled by the Fed looking to tighten aggressively towards 3% at least potentially.While Powell & co. may not be able to do so at the end of the day, we're not quite at the point where they are backing down just yet. As such, the April narrative looks to be carrying over; at least for now.