Energy Prices SOAR As US Treasury Yield Curve Swoons (Gold Almost At $2,000 As Bankrate’s 30Y Mortgage Rate Declines To 4.10%)

WTI Crude Oil spot price was up 91% from the beginning of 2021 to the Russian invasion of Ukraine. Now it is up 142% thanks to the invasion of Ukraine.

Energy prices are still soaring with UK Natural Gas prices up another 34.70% today with Brent Crude futures up 3.34%. Wheat futures are up 7.03%.

The US Treasury 10Y yield rose 6.8 bps this morning (UK takes the lead with a 10.3 bps increase).

The US Treasury 10Y-2Y yield curve slope continues to swoon to where it is now flatter than when President Biden entered office.

Gold is now at it highest level since before Biden was sworn-in as President as WTI Crude Oil soars.

Gold hit $2,000 before retreating back down.

And Bankrate’s 30Y mortgage rate declined to 4.10%.

Russia is the world’s largest exporters of wheat and Ukraine is the 5th largest exporter.

Putin: “No wheat for you!”