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Luke Gromen draws attention to the performance of the 10-year U.S. Treasury yield alongside oil prices since comments made by Sec. Bessent in February 2025. Gromen highlights a period where the yield and oil trends have been tracked closely after Bessent's remark to judge performance by the 10-year U.S. Treasury yield.
He also refers to a theme called “3 Arrows,” suggesting it may become “0-for-3 Arrows,” indicating a negative outcome or failed indicators in the current financial environment.
Gromen previously commented on gold's decline, after prices fell below $4,500 for their largest weekly loss since 1983, comparing the episode to 1920s Weimar volatility in a prior report. Earlier, he discussed why gold could offer relief from the risks posed by rising oil prices, citing the impact of surging energy costs in a separate analysis. The recent focus on the 10-year Treasury yield adds to his ongoing commentary on commodities and inflation pressures.