The Copper/Gold ratio signals US yields breakout ! The copper/gold ratio has broken to new multi year highs. Copper outperforming Gold is a bellwether of global growth and also an indicator of inflationary pressures building. The 10yr treasury yield has a very close correlation with this ratio and it has been an accurate indicator for yield direction for the past decade! At the moment yields are decoupling. However the decoupling isnt expected to be long and the bullishness of the copper/gold ratio points to a breakout in US 10yr yields at a minimum back to the Dec highs last year at 2.6%. Dont lose faith in USD longs yet ! The next big move as this ratio suggests is for yields and the buck ! USDYEN is the currency pair that is most sensitive to changes in US yields and the one that should benefit the most. Picking up some small long term core longs at current levels may work out very well !