US inflation expectations refresh record top to 2.95% even as Treasury futures hint at bear’s retreat

US inflation: US inflation expectations, as per the 10-year breakeven inflation rate per
the St. Louis Federal Reserve (FRED) data, refreshed all-time high to 2.95% by the end of
Friday’s North American trading session.

In doing so, the inflation gauge extends the slow grind to the north since mid-March as the
US Treasury yields rose to the highest level since May 2019.

It should be noted, however, that the latest Commodity Futures Trading Commission (CFTC) data
suggests the bond bear’s retreat as US Treasury 10-year futures net shorts fall to hit the smallest
levels since mid-February in the last week.

The same hints at the caution prevailing among the bond market traders and the same may help the
gold prices to extend the latest upside, via anticipated pullback in the US dollar.

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