- The Sovereign Signal
- Archive
- Page 14
🫧Bubbling on Top of a Cracking Foundation
0DTE mania and record‐high retail participation signal a late‐cycle melt‐up even as U.S. and Japan yields climb, tightening the screws on global equities. Meanwhile, Goldman estimates China quietly bought 15 tonnes of gold in May — roughly eight times the official figure.
🌏 When Sovereign Bedrocks Crack: Japan & U.S. Debt, Swap Spreads, and the Rotation Back to Gold & Silver
The 10‐Year Swap Spread and 3‐Year SOFR‐OIS have been front‐running today’s stress in JGBs and U.S. Treasuries — as the base layer quietly rotates back into gold, silver becomes the pressure‐release valve poised to erupt.
⚖️The Pressure Valve Is Hissing - Silver's Breakout, Gold’s Reset, and the Endgame No One’s Ready For
Momentum is no longer a theory—it’s a rupture. As silver detonates decades of distortion, gold prepares to reset the sovereign balance sheet. But those who hold the truth must now hold it wisely—or be taxed by victory itself.
The Great Repricing Begins
The entire global financial system is built on our bond market. That base layer is cracking—and it’s forcing the market to reach for real, non-rehypothecatable assets. This is how the largest debt super-cycle in history mutates into the largest commodities super-cycle in history.