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Luke Gromen compares two long-term trends since 1986: U.S. white collar crime prosecutions, which have been in a 30-year bear market and declined 80% over the past 15 years, and long-term U.S. Treasury futures priced in gold, which have also experienced a prolonged bear market and a sharp, non-linear collapse on a log chart since 2019.
Gromen highlights the parallel declines as noteworthy developments in both legal enforcement and financial markets over the period.
Gromen has previously examined shifts in bond performance, including how the 10-year U.S. Treasury yield moved relative to oil following Secretary Bessent's February 2025 remarks here. He also highlighted gold’s largest weekly decline since 1983, noting when prices dropped below $4,500 here. These observations add context to his ongoing coverage of market dislocations.