Even though as the Commodity ETF was attempting a breakout (and has since failed) the forever inflation vigilant bond traders were not convinced. In the bottom chart panel the 10 year bond chart continued to trade sideways to down as commodities were rallying. From a multi year chart perspective both these markets continue to point to subdued inflationary pressures. So home borrowers should remain happy for now. Continue to watch the bottom chart panel to see if the red horizontal support line is broken as this could send rates back down to new monthly lows.