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Mike McGlone highlights that natural gas futures and the U.S. Treasury 30-year yield are both near significant resistance levels.
According to McGlone, natural gas is pressing against $5 per million British thermal units, while the 30-year Treasury yield approaches 5 percent. Both moves may indicate a potential peak in current inflation trends.
McGlone has previously noted that high prices could lead WTI crude oil to experience similar price swings as U.S. natural gas. He also reported that hedge funds held their most optimistic grain futures positions since June 2022, with 17% net-long exposure risking potential liquidation. These observations reflect his focus on price inflection points across commodity markets.