Lately rates are rising and my favorite rate correlation, $copper/$gold versus the 10 year treasury yield ($TNX), is signalling that higher is the path of least resistance. With Juice It Janet at Treasury, Pumping Powell at the FED, Not Sure as POTUS, and a friendly House & Senate, funny money should flow like water after the 20th. Is this the noise that finally wakes the long hibernating bond vigilantes from their seemingly eternal slumber? Can the FED buying keep bond bear hunting successfully if there's an ursa stampede? Will covid keep rates in check even with a super funny money flow and vaccines in every willing arm? Maybe this is just a dronesome fly in the bond bubble ointment that's easy to extricate with just a little more FEDing. The next few interesting months should answer all these questions.