40-Year Cycle of Bonds, Interest Rates & Inflation

(Major top in Bonds, and low in interest rates, forecast for July 2020… to be followed by 2 – 3 year decline in Bonds… likely lasting into 2023.  Succession of sell signals published in 2020 & 2021, allowing INSIIDE Track readers to capitalize on this remarkable opportunity… and generational shift.)

2020 Vision

In INSIIDE Track, Eric Hadik repeatedly explained – since long before 2020 and the outbreak of Covid-19 – why the 2020’s would be a dramatically different situation for interest rates and why it would ultimately (in the mid-2020’s and beyond) have a lot to do with the US Dollar.

An initial rise in interest rates – and corresponding plunge in 30-Year Bonds and 10-Year Notes – was forecast to begin in July 2020 and last 2 – 3 years before an initial 1 – 2 year bottom (Bonds & Notes) in 2023.

That analysis detailed, and continues to detail, why Bonds & Notes would plummet into 4Q ’22, bounce into Jan/Feb ’23, and then enter another decline before bottoming later in 2023.  If all those projections were accurate, that would ultimately lead to a rally (and related pullback in interest rates) in 1Q & 2Q ’24.

Dollar Demise?

However, it is what will likely follow 3Q ’24 – when a secondary low in interest rates and secondary top in Bonds & Notes is projected – that will likely shock the markets and cast a serious pall over the US economy leading into 2025/2026.

This has to do with Currency Wars and who buys, or sells, US debt! 

And, it has to do with the ‘petrodollar’… and the emergence of the ‘petroyuan’.

And it has to do with long-term US Dollar cycles and the completion of a 14-Year uptrend!

To better understand where interest rates are likely headed, it is critical to look back and see where they have been… and what they have been revealing along the way.

40-Year Cycle

For over a decade, traders, bankers, mortgage brokers and economists believed that interest rates could only go down… and that sub-zero rates were an imminent reality.  On balance, rates had declined for a full 40-Year Cycle from a major peak in/around 1980.

That all changed in 2021 when the 40-Year Cycle ushered in a new phase of inflation and ultimately forced the Fed to go on an interest rate hiking rampage.  As is usually the case, the Fed will likely go too far and create a new set of problems that will begin to emerge in 2024.

Before any of these fundamentals had appeared on anybody’s radar, Bonds had already identified a new multi-year cycle… back in July 2020.

At that time, interest rates were forecast (in INSIIDE Track) to set a Major multi-year low and enter a 2 – 3 year uptrend as the initial phase of a seismic shift in US-based interest rates.  (The second phase is expected to begin after July 2024… but that is a topic for a separate discussion.)

We now know that Bonds & Notes peaked, and corresponding interest rates bottomed out, in July 2020 – precisely when an uncanny 4-Year Cycle projected. 

The Setup

The following are a collection of excerpts from the year PRIOR to that peak in Bonds, explaining why Eric Hadik was convinced that rates had one more drop – into July 2020 – before a MAJOR bottom would take hold (and a MAJOR top in Bonds since Bonds & Notes trade inversely to interest rates).

That set the stage for a multi-year top in Bonds and a pair of major (published) sell signals, allowing readers to capitalize on this analysis – after a ~year’s worth of publications had repeatedly pinpointed exactly when that MAJOR top would, and in fact did, take hold…

8-30-19In the process, Bonds have reinforced the next important cycle high – expected in mid-2020 (May – July ‘20).  For more than two decades, Bonds have traced out a consistent 4-Year Cycle that most recently timed peaks in June/July ‘12 and July ‘16.  Prior to that, they set lows in June ‘08, May ‘04, May ‘00 (a secondary low after late-’99 events spurred a dramatic drop into Jan. ‘00) and June ‘96.  That creates a textbook, 4-year low-low-low-low-high-high-(high) Cycle Progression – next peaking in mid-’20.

September 2019, INSIIDE Track

9-30-19Looking ahead, a multi-month low is expected in late-2019/early-2020 followed by the next important cycle high – expected in May – July ‘20… a textbook, 4-year low-low-low-low-high-high-(high) Cycle Progression – next peaking in mid-’20.

October 2019, INSIIDE Track

10-31-19“This also has the chance to fulfill ongoing analysis for a multi-month low in late-2019/early-2020 followed by the next important cycle high in May – July ‘20…  a textbook, 4-year low-low-low-low-high-high-(high) Cycle Progression – next peaking in mid-’20.”

November 2019, INSIIDE Track

11-30-19“Bonds & Notes have initially fulfilled analysis for a multi-month bottom in Nov. ’19… and fulfilled a ~13-month/56 – 60 week high (July ’16) – high (Sept. ’17) – low (Oct. ’18) – low (Nov. ‘19) Cycle Progression.  The early-Nov. low also perpetuated a 17 – 18 week high (Jly. 2 – 6, ‘18) – low (Nov. 5 – 9, ‘18) – low (Mar. 4 – 8, ‘19) – low (Jly. 8 – 12, ‘19) – low (Nov 4 – 18, ’19) Cycle Progression… fulfill ongoing analysis for a multi-month low in late-2019/early-2020 followed by the next important cycle high in mid-2020 – ideally in mid-July 2020.”

December 2019, INSIIDE Track

01-06-20“Bonds & Notes initially fulfilled analysis for a multi-month bottom in Nov. ’19… followed by a rally into the next important cycle high in mid-2020 – ideally in mid-July 2020.  Bonds maintain a consistent 4-Year Cycle (since 1996) that timed peaks in June/July ‘12 and July ‘16… a textbook, 4-year low-low-low-low-high-high-(high) Cycle Progression – next peaking in mid-’20.”

January 2020, INSIIDE Track

01-31-20“That should usher in a wave ‘5’ advance which is still expected to peak in mid-2020 – ideally in mid-July 2020 – the fulfillment of a textbook, 4-year low-low-low-low-high-high-(high) Cycle Progression that last timed peaks in mid-2012 and mid-2016 and next peaks in mid-’20.  With the latest global scare (Coronavirus) threatening to further slow China’s economy, and potentially impact global growth as a result, Bonds & Notes could be providing important timing clues as to when to expect a shift.”    

February 2020, INSIIDE Track

02-27-20“Bonds & Notes completed an ‘a-b-c’ correction from the late-Aug. ’19 peaks – first declining into mid-Sept. (‘a’), then rebounding into early-Oct. (‘b’) and then selling off into early-Nov. (‘c’)… That should usher in a wave ‘5’ advance which is still expected to peak in mid-2020 – ideally in mid-July 2020 – the fulfillment of a textbook, 4-year low-low-low-low-high-high-(high) Cycle Progression that last timed peaks in mid-2012 and mid-2016 and next peaks in mid-’20.”

March 2020, INSIIDE Track

06-30-20“Bonds & Notes continue to climb and remain in overall multi-year uptrends (and multi-month uptrends since early-2020) with the potential for a final spike high during this mid-’20 (June/July ‘20) time frame.  Since 2018, this current period has been in focus for the next multi-year peak. 

A peak in mid-2020 would fulfill a ~4-year low-low-low-low-high-high-(high) Cycle Progression dating back to the 1990’s and more recently timing peaks in mid-2012 and mid-2016.  It would also fulfill a 10-month low-high-high Cycle Progression.  These cycles are also in sync with expectations that stocks have set their (probable) lows for 2020.”

July 2020, INSIIDE Track

Bonds set their highest weekly close AND highest monthly close on July 31, 2020!

That was in perfect lockstep with and fulfillment of these cycles – ushering in what was forecast to be a multi-year (5 – 10 year or more) low in interest rates.  For an entire year, leading into that July ’20 peak, INSIIDE Track did not waiver on that outlook – repeatedly proclaiming why rates would continue to head lower into July 2020… and the markets obliged.

Trading Signals

That is also when INSIIDE Track explained why traders and long-term investors should exit long positions in Bonds & Notes and begin to enter the short side as a pair of inflationary surges were forecast to take hold in the US (and global) economy – first into April/May ’21 and then into Sept/Oct ’22 – as Bonds suffered what was projected to be a dramatic, multi-year decline…

07-30-20“The period between March 16 – 23, 2020 – when a powerful convergence of daily, weekly, monthly & multi-year cycles bottomed in multiple markets – and April/May 2021… has been forecast to witness an inflationary surge in stocks, Silver and many other markets.

That has been forecast, not surprisingly, to coincide with a 12 – 14 month decline in the US Dollar – a sell-off that was/is likely to resemble the 2017 drop.  It has a primary downside target of ~89.00/DX but could see lower prices.  If the Dollar is able to reach that level by Jan. 2021, it will perpetuate a decades-long pattern of Dollar declines during Republican administrations and advances during Democratic administrations – peaking in Jan. 2017 and declining into Dec. ‘20 or Jan. ‘21…

[Editor’s Note: The Dollar dropped into Jan ’21 and bottomed at 89.16/DX.]

40YC of Inflation?

Getting back to the outlook for March ‘20 into May ‘21, three of the most significant forecasts have been powerfully validated in recent months.  They are:

— New surge in stocks, after they fulfilled the Perfect Storm of Sell Signals triggered and described in late-Jan./early-Feb. ’20 and completed 2-Year & 40-Year Cycle declines on March 23, 2020… 

Consistent with a majority of those factors, most stocks were forecast to set 6 – 12 month (or longer) lows by/on March 23 and then enter new advances that should ultimately carry them higher into April/May 2021 – the next phase of the 16-month cycle and another significant phase of the 40-Year Cycle.  Multi-month buy signals were triggered on March 18 – 23.

— A major surge in Silver that was forecast to bottom on March 16 – 20, 2020 – along with an uncanny web of powerful cycle lows – and then enter a 12 – 14 month period where its gains were/are projected to substantially outpace the gains in Gold – even as all precious metals (and XAU) entered the culminating, often accelerated, phase(s) of a 5 – 6 year uptrend.  A multi-month buy signal was triggered/published. 

(In mid-March, Gold bottomed near 1450/GC while Silver bottomed near 12.00 – a ratio of ~120/1.  This week, Gold spiked up near 2000/GC while Silver reached 26.00/SI – dramatically reducing that ratio to ~77/1 while validating the outlook for March ’20 – May ’21 to see proportionately greater gains in Silver as precious metals entered the most intense phases of their projected 2016 – 2021 advances.)

— US Dollar cycles peaked in March 2020 and projected an overall decline into 1Q/2Q 2021 that could easily take it to new multi-year lows (lowest levels since at least late-2014). 

Not only would that fulfill multiple monthly and yearly cycles, it would also complete a 50% retracement in time of the Dollar’s 2008 – 2016 advance (105/106 months up followed by 52/53 months down).

When the three of those are combined, they show the potential for an inflationary advance from late-March ’20 into May ’21

Lower Dollar.  Rising metals (precious and industrial).  Rising stocks. 

Add in massive government spending, to deal with a pandemic that is still out of control and the resulting economic debacle, and you have the fundamental factors for a declining Dollar and rising price inflation.  This does NOT mean we are returning to the late-1970’s.  The current environment is much different…

Bonds & Notes continue to edge higher but are expected to peak in this time frame.  They continue to climb from their late-2019 multi-month cycle lows… However, the outlook was/is for a final spike high to occur during this mid-’20 (June/July ‘20) time frame. 

A peak in mid-2020 would fulfill a ~4-year low-low-low-low-high-high-(high) Cycle Progression dating back to the 1990’s and more recently timing peaks in mid-2012 and mid-2016.

Keep in mind, however, this does not automatically mean the perspective will shift from dropping to rising interest rates since that is rarely how tops unfold.  Instead, the prevailing trend reaches an extreme – often surging (in the case of an uptrend, as is the case in Bonds and Notes) to higher levels than what prevailing fundamentals support. 

The market will remain there (precariously) for a period of time until that euphoric bullishness begins to fade.  That is when initial selling emerges.  That selling is rarely the immediate start of a new trend but rather a topping process that must unfold in order to shift from one expectation to the opposite.

So, this (now) is when the topping process is expected to begin.  However, it could be some time before anyone begins to talk about interest rates creeping up.  The first stage is that they will not be so convinced that rates must continue to go down.

Longer-term investors and hedgers can begin to liquidate long positions in Bonds & Notes and start to watch for signs of a reversal lower, in order to initiate selling.”

August 2020, INSIIDE Track

Inflation, Inflation, Inflation

In 2Q & 3Q 2020, INSIIDE Track was detailing why a 40-Year Cycle of inflation was returning and would spur a massive surge in prices leading into 2022.  It also addressed why the Fed’s desire for the return of inflation was a knee-jerk reaction that would ultimately come back to bit them… and explained why Bonds had just set a generational peak and were about to enter a multi-year decline (as interest rates entered a multi-year advance):

08-29-20 Outlook 2020/2021 – 40-Year Cycle of Inflation

“There has been one primary, overriding expectation… It has been discussed in respect to multiple markets and has just received some noteworthy (Fed) validation… The primary expectation/projection for this period has been an inflationary surge in multiple commodities, precious/industrial metals, foodstuffs, and even equity markets.  It has been forecast to be a synergistic, though sometimes staggered rally…

Coinciding with, and potentially causing, that was the forecast for a 12 – 14 month decline in the US Dollar – a sell-off that was/is likely to resemble the 2017 drop and reinforce the decades-long pattern of Dollar declines during Republican administrations and advances during Democratic administrations. 

The US Dollar peaked in Jan. 2017 and could drop into Dec. ‘20 or Jan. ‘21 – a slow but overall decline that would encompass the entire administration.  Since this is often the driving force for inflationary moves, it is important to review the cycles governing the larger swings (1 – 2 years or more) in the Dollar…

[Editor’s Note: The Dollar dropped precisely into Jan ’21 and bottomed at 89.16/DX.]

This inflationary surge was projected to spur a proportionately greater advance in Silver than in Gold – something that Silver Bugs had been anticipating for years – beginning on March 16 – 20, ‘20 when Silver triggered a major buy signal.

The amazing thing about that action in Silver is how closely it correlated with the outlook for a major bottom in stocks – projected for March 23, 2020.  In one single week, two diverse but sometimes corresponding measures of ‘inflation’ converged.  One signaled the onset of what could be a larger phase of commodity price inflation…

Inflationary Starting Pistol…

With so many metals then fulfilling major downside objectives, as well as multi-month & multi-year cycle lows, the buy signals generated in March 2020 set the stage for a significant uptick in price inflation that was forecast for March ‘20 into May ‘21. 

The Dollar concurred, peaking on March 19 and entering what is likely to be a 12 – 14 month decline.

Stock Indexes reinforced that, bottoming on March 18 – 23 in sync with the 40-Year & 2-Year Cycles and triggering their own multi-month buy signal.

As is usually the case, cycles and technical analysis fired this ‘starting pistol’ WAY before fundamentals revealed anything remotely similar.  In most cases, a fulfilling fundamental factor will not materialize until the middle third of a move or trend… 

40YC of Competing Inflation

40 years ago, inflation was considered the ultimate evil in the financial markets as 1980 was experiencing the culmination of a 3 – 5 year and 5 – 10 year surge in commodity and precious metals’ prices – a parabolic move that was crippling the economy. 

Paul Volcker set the Federal Reserve into overdrive to combat that inflation.

Fast-forward to the present when the concern is suddenly that there is not enough inflation.  So, Jerome Powell just announced a new Fed approach that would (paraphrased) help nurture moderate inflation.

Be Careful What You Wish For!

As is the case with so many cycles, the extremes (beginning and end of that cycle) often time opposing extremes – the beginning of one move and the end of another… or vice-versa.

In this case, 1980 marked the culmination of an incredible inflationary cycle… and ushered in a 40-Year Cycle of Inflationary Vigilance.

40 years later, 2020 marks the onset of what could be a new inflationary cycle – with the first phase unfolding from March ‘20 into April/May ‘21.

There is another irony at play here.  It should be watched closely over the next couple years.  The culmination of commodity inflation – peaking in 1980 – paved the way for a near 40-Year Cycle of Paper Asset Inflation with stocks and bonds beginning massive bull markets… in 1981 and 1982.

Could 2021 and 2022 provide contrasting action – showing that those bull markets have peaked?

Inflationary Scares?

A myriad of overlapping cycles have been forecasting price inflation – in diverse commodities and precious metals – between late-March ‘20 and May ‘21.  The following is a small sampling of the commodities forecast to experience sharp rallies in 2Q ‘20 – 2Q ‘21 – bottoming in a staggered manner and expected to subsequently top in similar fashion.

One of those was Lumber, which bottomed in 2009 and set a secondary low in 2015.  Leading into 2020, Lumber was projected to set another higher low in 2Q ’20 – ushering in a ‘3’ of ‘3’ of ‘3’ wave advance projected to take hold in May ’20 and last into 1Q ’21. 

In order to validate that scenario, Lumber was forecast to set an initial peak above 440.0/LB in Feb. and then correct – setting the stage for a new bull run to take hold in May ’20…

Lumber followed that scenario pretty closely, spiking above 440.0 as it peaked in Feb. ‘20… and then plunging into early-April.  It vacillated near its lows in April, awaiting bullish cycles to arrive in May ‘20 – at which time Lumber embarked on its new bull run.  Little did anyone realize what kind of impact Covid-19 would have on lumber demand in May – Aug. ‘20…

Another bout of commodity price inflation was forecast for the grain markets with Soybeans forecast to see an initial surge into early-July and a larger overall surge into Sept. ‘20.  The price action of the coming weeks will have to clarify if Sept. ‘20 will time the completion of this surge… or just an interim peak.

Then there is another key market that was projected to set a multi-year bottom in 1Q ‘20 and undergo an initial surge into Nov./Dec. ‘20… 

Natural Gas set its lowest daily close on Feb. 28 and intraday low on March 9 – repeatedly testing 1.550 – 1.600/NG, where major support existed.  It initially surged into May ‘20 and then pulled back into early-July.  That ushered in the second phase of Natural Gas’ projected surge…

When is the next inflationary wave likely to take hold?… 

Bonds & Notes are validating analysis for a final spike high to occur in Jun/July ’20… That peak fulfilled a ~4-year low-low-low-low-high-high-(high) Cycle Progression dating back to the 1990’s and more recently timing peaks in mid-2012 and mid-2016.

Bonds & Notes set their highest weekly closes on July 31 and triggered signals for long-term traders and investors to liquidate long positions and look for a reversal lower then (see Aug. ’20 INSIIDE Track)… 

On Aug. 28, Bonds added a critical level of validation to ongoing analysis for a 3 – 6 month (or much longer) peak in mid-2020.  They turned their weekly trend down while closing below their weekly 21 Low MAC – as it also turned down…

Looking out over the next 3 – 6 months, a mid-2020 peak does not necessarily portend a major sell-off (yet).  The overall mindset will not likely make an immediate shift from expecting perpetually low interest rates… to suddenly anticipating rising rates.  

Instead, Bonds & Notes could remain in their upper regions for a few months until their euphoric bullishness begins to fade with some initial selling.  That selling is rarely the immediate start of a new trend but rather a topping process that must unfold in order to shift from one expectation to the opposite.   

As part of that process, they will likely see 2 – 3 sell-offs with intervening rebounds to lower highs as the prevailing opinions slowly shift… before a more sustained and damaging decline is able to form. 

Another resurgence of price inflation – later this year or in early-2021 – could also help change perspectives on interest rates. 

Longer-term investors and hedgers can be liquidating long positions in Bonds & Notes and watching for signs of a reversal lower, in order to initiate selling.  If an early-Sept. rebound materializes – with Notes retesting their highs and Bonds remaining below their high – that would justify initial selling.”   

September 2020, INSIIDE Track

Multi-Decade Cycles

As sell signals were being generated in Bonds, INSIIDE Track explained why this was MUCH MORE than just the start of a 2 – 3 year rise in interest rates (and plunge in Bonds).  Instead, it is a GENERATIONAL shift that is projected to enter its second major phase in 2024/2025!  The action of 2020 – 2022 powerfully validated that and set the stage for what has been forecast for 2023 – 2025

09-30-20 “America continues to evolve on a 40-Year Cycle basis.  By that, I mean that many social and economic swings have adhered closely to that 40-Year Cycle – the topic of dozens of discussions over the past decade.  The primary focus of that analysis has been the period of 2015 – 2021 – when seismic shifts were forecast to occur. When analyzing that, it is always important to remember that history rhymes… it does not repeat.

One current example involves expectations for price inflation in 2020 – possessing some similarities AND some very important distinctions from what took place in 1980… and 1940… and 1900.  In the current case, the 2010’s have seen an exponential rise in paper assets – most notably stocks (and bonds) – akin to the rise in commodity prices & hard assets in the 1970’s.

In Jan. 1980, the price of Gold & Silver hit their peak before correcting into 1982… metals and commodities were forecast to see an inflationary price surge from March 16 – 20, ‘20 into 2Q ‘21 (at the same time Dollar cycles were/are bearish).  It is the subsequent period between mid-2021 and late-2022 when things could get a bit more ‘dicey’…

Bonds & Notes are validating analysis for a final spike high to occur in June/July ’20… That peak fulfilled a ~4-year low-low-low-low-high-high-(high) Cycle Progression dating back to the 1990’s and more recently timing peaks in mid-2012 and mid-2016.

Bonds & Notes set their highest weekly closes on July 31 and triggered signals for long-term traders and investors to liquidate long positions and look for a reversal lower… part of which was/is expected to be influenced by developing commodity inflation… 

Looking out over the next 3 – 6 months, a mid-2020 peak does not necessarily portend a major sell-off (yet).  The overall mindset will not likely make an immediate shift from expecting perpetually low interest rates… to suddenly anticipating rising rates. 

Instead, Bonds & Notes could remain in their upper regions for a few months until their euphoric bullishness begins to fade with some initial selling.  That selling is rarely the immediate start of a new trend but rather a topping process that must unfold in order to shift from one expectation to the opposite.  Another resurgence of price inflation – later this year or in early-2021 – could also help change perspectives on interest rates… 

Longer-term investors and hedgers can be liquidating long positions in Bonds & Notes… in order to increase selling.  The early-Sept. rally provided the first opportunity.” 

October 2020, INSIIDE Track

[Bonds were trading at ~178 – 180/USU when the Sept’ 20 sell signal was triggered.]

10-29-20 “Interest rates fulfilled analysis for another drop from late-2018 into mid-2020 – when a consistent 4-year cycle projected a major bottom in rates.  A 3 – 6 month bottoming process (in rates; topping process in Bonds & Notes) is expected to unfold before 2021 ushers in a sentiment shift…

Bonds & Notes have validated analysis for a final spike high to occur in June/July ‘20 and usher in a sizeable correction. That peak fulfilled a ~4-year low-low-low-low-high-high-(high) Cycle Progression dating back to the 1990’s and more recently timing peaks in mid-2012 and mid-2016.

Bonds & Notes set their highest weekly closes on July 31 and triggered signals for long-term traders and investors to liquidate long positions and look for a reversal lower… expected to be influenced by developing commodity inflation… 

Bonds & Notes could remain in their upper regions for a few months as euphoric bullishness begins to fade.  Initial selling is rarely the immediate start of a new trend but rather a topping process that must unfold in order to shift sentiment over time.  Another resurgence of price inflation – in early-2021 – could also help change perspectives on interest rates…

Longer-term investors and hedgers can be liquidating long positions in Bonds & Notes and could have increased selling in early-Sept.  A 2 – 3 week rebound could provide another selling opportunity.  

November 2020, INSIIDE Track

01-04-21 “Interest rates fulfilled analysis for another drop from late-2018 into mid-2020 – when a consistent 4-year cycle projected a major bottom in rates.  A 3 – 6 month bottoming process (in rates; topping process in Bonds & Notes) is unfolding and could lead to a sentiment shift in 2021

Bonds & Notes are expected to remain below the highs they set in June/July ‘20 while perpetuating a ~4-year low-low-low-low-high-high-(high) Cycle Progression dating back to the 1990’s (more recently timing peaks in mid-2012 and mid-2016). That was forecast to time a major, multi-quarter (and ideally multi-year) peak.

In sync with what has been described since March 2020, a resurgence of price inflation from late-March ’20 into May ’21 is likely to modify some of the overly bearish sentiment toward interest rates (that was in place in 2Q ’20) and instead apply new downward pressure on Bonds… 

Longer-term investors and hedgers can be liquidating long positions in Bonds & Notes and selling on intermediate rallies.  A rebound to 177-08 – 179-00/USH could spur additional selling.”   

January 2021, INSIIDE Track

2024 Vision

Throughout this period (2020 – 2022), INSIIDE Track also kept readers’ focus on the future as well as the present.  As stated throughout that time, a new phase of Currency Wars was projected to overlap the 80-Year Cycle of War (late-2021 through late-2025) was expected to created rarely seen (generational) moves in many markets… creating trading & investment opportunities not seen in over a decade.  That would be powerfully confirmed IF three primary things occurred:

— Bonds remained below their July 2020 peak (since that was forecast to be a minimum 5 – 10 year peak).

— Bonds declined into 2023.

— Bonds then bounced into ~July 2024, at which time they set a secondary/lower peak.

…And then the REAL trouble begins!

Late-2023 (decline could stretch into 4Q 2023) and mid-2024 (ideally, July 2024 – when a rebound in Bonds is most likely to culminate) are critical time frames…

02-27-21 “Bonds & Notes are powerfully reinforcing the 1 – 2 year outlook after peaking in lockstep with an uncanny 4-Year Cycle that timed multi-year peaks in July 2012 & July 2016 (after timing previous lows in mid-2004 and mid-2008) and was forecast to time a final peak in ~July 2020 (+ or – 1 month).

That was projected to be a major top and usher in a multi-year decline in Bonds & Notes (and rally in interest rates, seeing rates begin to rise in 2021), coinciding with expectations for commodity price inflation in 2Q ‘20 through 2Q ‘21 (the first stage). 

The next phase of that 4-Year Cycle – in ~July 2024 – should time a secondary, lower high.  In between, Bonds & Notes are expected to decline for 2 – 3 years and then rebound into mid-2024.  On an intervening basis, they have been expected to see a secondary, lower high (on a lesser magnitude basis) in June – Aug. ‘21

Longer-term investors and hedgers could have been liquidating long positions in Bonds & Notes and selling on intermediate rallies in 3Q/4Q ‘20.  If they bottom in the first half of March, wait until June ’21 before adding to short positions.“  

March 2021, INSIIDE Track

[Bonds bottomed in March ’21 and rallied into late-June/early-July ‘21]

03-31-21 “Bonds & Notes are in the process of completing an initial decline from what was/is expected to be a multi-year peak (July ’20).  That peak perpetuated an uncanny 4-Year Cycle that timed multi-year highs in July ‘12 & July ‘16 (after timing previous lows in mid-2004 and mid-2008) and was forecast to time a final peak in ~July 2020.

The next phase of that 4-Year Cycle comes into play in ~July 2024 and should time a secondary, lower high.  In between, Bonds & Notes are expected to decline for 2 – 3 years and then rebound into mid-2024.  That means that interest rates could slowly rise in 2021 and 2022, possibly extending into 2023.

On an intervening basis, they have been expected to see a secondary, lower high (on a lesser magnitude basis) in June – Aug. ‘21.  That potential is receiving some corroboration from recent action.

Bonds & Notes are trying to signal a bottom after dropping into the latest phase of a 64-week low-low-low Cycle Progression that links to the two most significant lows of the past few years (Oct. ’18 & Dec. ’19).  Bonds dropped right to the level of the Dec. ’19 low (155-05/US basis continuous contract) – reinforcing the current link to those previous lows.

If the late-March lows hold, a subsequent 50% rally in time (32 weeks down/16 weeks up) would take Bonds & Notes into July ’21 – the middle of the June – Aug. ‘21 period when an intervening peak (lower high) is expected and when an ~11-month low (Oct ’18) – high (Sept ’19) – high (Aug ’20) – high (July ’21) Cycle Progression recurs.   

Longer-term investors and hedgers could have been liquidating long positions in Bonds & Notes and selling on intermediate rallies in 3Q/4Q ‘20.  Wait until July ’21 before adding to short positions.”  

April 2021, INSIIDE Track

[Bonds bottomed in March ’21 and rallied into late-June/early-July ’21; ~64-week/~15-month cycle projects future lows in ~June ’22 & ~Sept ‘23]

Cyclical CheckList

Based on previously published analysis, a synergistic combination of events was projected to unfold in 2020/2021 IF the outlook for 2022 – 2025 (and ultimately into 2029) was to be validated.  Almost all of those forecasts were fulfilled, some with uncanny accuracy…

04-29-21 “The markets have entered a momentous time when 5 – 10-year trends and shifts were projected to culminate, 40-year cycles and trends were projected to shift and larger-degree cycles – like the 80-Year Cycle of War – were projected to enter a new and decisive phase.

At least part of these shifts are also linked to the uncanny influence of the ~11-Year Sunspot/Solar Cycle that bottomed in late-2019 and is likely to accelerate higher in 2021 and 2022…. 

Among the events or shifts projected for 2020/2021 were:

– Completion and transition of ongoing 40-Year Cycle of Currency War.

– Parabolic phase in Gold/Silver bull markets as well as Bitcoin/crypto bull markets.

– Food Crisis Cycles prompting substantially higher prices in grains and foodstuffs – whether supply or demand related.

– Related accelerated advances in grains, beginning with Soybeans in 2020 and shifting to Wheat (and Corn) in 2021 and back to Soybeans in 2022.

– Culmination of US Dollar correction from 2017 peak (and onset of new 1 – 3 year advance) – in the first half of 2021 .

– Major bottom and onset of multi-year uptrend in interest rates, beginning in mid-2020.

– Onset of multi-year war cycle linked to 80-Year Cycle of War (1781, 1861, 1941, 2021) – beginning in 2021 and impacting several years that follow.

In crucial respects, all of these expectations are related.  The key is identifying the connecting threads and acting accordingly…

Bonds & Notes set a bottom after dropping into the latest phase of a 64-week low-low-low Cycle Progression that links to the two most significant lows of the past few years (Oct. ’18 & Dec. ’19).  The three most significant lows (if the late-March ‘21 low holds for 3 months or more) of the past three years are now spread in perfect symmetry.

The recent low also corroborates the ongoing outlook for a secondary, lower high to be set in June – Aug. ‘21.  With the latest low taking hold in late-March, a subsequent 50% rally in time (32 weeks down/16 weeks up) would take Bonds & Notes higher into July ’21.  That is also when an ~11-month low (Oct ’18) – high (Sept ’19) – high (Aug ’20) – high (July ’21) Cycle Progression recurs…   

On a broader basis, Bonds & Notes were projected to set a multi-year peak in July ’20 in perpetuation of an uncanny 4-Year Cycle that timed multi-year highs in July ‘12 & July ‘16 and preceding lows in mid-2004 and mid-2008.  The next phase of that 4-Year Cycle comes into play in ~July 2024 and should time a secondary, lower high. 

In between those two major cycle highs, Bonds & Notes were/are expected to decline for 2 – 3 years and then rebound into mid-2024.  That means that interest rates could slowly rise in 2021 and 2022, possibly extending into 2023.

Longer-term investors and hedgers could have been liquidating long positions in Bonds & Notes and selling on intermediate rallies in 3Q/4Q ‘20.  Wait until July ’21 before adding to short positions.”   

May 2021, INSIIDE Track

Solar Cycles

While it may seem a little esoteric, the ~11-Year Sunspot Cycle has had a very close relationship to market swings… primarily when it intersects two other multi-decade cycles.  2022 – 2025 is one of those periods and was forecast to be preceded by global shifts in 2020/2021, including the return of Disease/Virus Cycles in late-2019/early-2020 – analysis that had been published since 2006.

https://www.insiidetracktrading.com/wp-content/uploads/2020/04/2016-The-Golden-Year-III.pdf

https://www.insiidetracktrading.com/wp-content/uploads/11YC-Stock-Panics-Global-Shaping-Events-1.pdf

That was merely the ‘starting pistol’ being fired for what is expected to be a tumultuous decade (2020 – 2029).  A major solar storm could also impact these markets, occurring when it is least expected…

05-28-21 “2021 – 2022 is expected to time the latest upswing in the ~11-Year Sunspot/Solar Cycle that bottomed in late-2019.  That is just one of many converging cycles – some that are many decades in duration – that collide in the 2021 – 2024 period… with initial focus and emphasis on those converging in 2021/2022

As warned last issue, the resurgence of sunspot activity could create all kinds of unintended consequences as sudden solar storms can impact Earth’s geomagnetic fields with only a couple days’ warning.  There have even been some in more recent history (last 50 – 100 years) that arrived in less than a day… that’s not much warning! 

2021/2022 has cyclic relation to many previous (significant) solar storms and is expected to be an unstable period.  As a result, it is no surprise that so many related market cycles could have a corresponding impact.  They include inflationary cycles, interest rate cycles, stock market crash cycles, gold & silver cycles, and even US Dollar cycles…

Bonds & Notes have rebounded after setting a multi-month bottom in Mar. ’21 – the latest phase of a 64-week low-low-low Cycle Progression that links to the two most significant lows of the past few years (Oct. ’18 & Dec. ’19).  As a result, the three most significant lows of the past three years are now spread in perfect symmetry.

That low turned the focus to the ongoing outlook for a secondary, lower high to be set in June – Aug. ‘21.  With the latest low taking hold in late-March, a subsequent 50% rally in time (32 weeks down/16 weeks up) would take Bonds & Notes higher into July ’21.  That is also when an ~11-month low (Oct ’18) – high (Sept ’19) – high (Aug ’20) – high (July ’21) Cycle Progression recurs…  

On a broader basis, Bonds & Notes were projected to set a multi-year peak in July ’20 in perpetuation of an uncanny 4-Year Cycle that timed multi-year highs in July ‘12 & July ‘16 and preceding lows in mid-2004 and mid-2008.  The next phase of that 4-Year Cycle comes into play in ~July 2024 and should time a secondary, lower high. 

In between those two major cycle highs, Bonds & Notes were/are expected to decline for 2 – 3 years and then rebound into mid-2024.  That means that interest rates could slowly rise (and Bonds fall) in 2021 and 2022, possibly extending into 2023.

Longer-term investors and hedgers could have been liquidating long positions in Bonds & Notes and selling on intermediate rallies in 3Q/4Q ‘20.  Wait until July ’21 before adding to short positions…

As a whole, commodities and inflation-related markets have been heading higher since March ‘20 – when major cycles bottomed… Over the past few decades (and in keeping with the focus on Sunspot cycles), commodities have seen a related ~11-Year Cycle that created peaks in Sept/Oct 2000 and Sept/Oct 2011.  That could push a final inflation/commodity price peak into Sept/Oct 2022 – when other related cycles concur. 

If a final peak is likely to extend into Sept/Oct ‘22, it would not be surprising to see a preliminary peak in Sept 2021 – when many related cycles converge.”  

June 2021, INSIIDE Track

06-29-21 “Bonds & Notes remain on track for an overall advance into July/Aug ’21 – when they are expected to set a secondary peak (primary peak was July ’20).  A peak in July ‘21 (ideal scenario) would arrive 1 year/360 degrees from when multi-year cycles peaked in July 2020 and complete a 50% rally in time (32 weeks down/16 weeks up), from the late-March low (July 6 – 9 is precise week).

Bonds corroborated that when they set a secondary low in early-May – 8 weeks from their mid-March low.  That created an 8-week low-low-high Cycle Progression targeting July 6 – 9.  That is also when an ~11-month low (Oct ’18) – high (Sept ’19) – high (Aug ’20) – high (July ’21) Cycle Progression recurs.   

They continue to recover after setting a multi-month bottom in Mar. ’21 – the latest phase of a 64-week low-low-low Cycle Progression that links to the two most significant lows of the past few years (Oct. ’18 & Dec. ’19).  The next low in that series is expected around mid-2022. 

A peak in mid-2021 would reinforce that potential.

The action of July/Aug ‘21 could powerfully reinforce the overall outlook for interest rates (inverse of Bonds/Notes).  Bonds & Notes were projected to set a multi-year peak in July ’20 in perpetuation of an uncanny 4-Year Cycle that timed multi-year highs in July ‘12 & July ‘16 and preceding lows in mid-2004 and mid-2008 (see diagram above). 

The next phase of that 4-Year Cycle comes into play in ~July 2024 and should time another multi-year (secondary/lower) high.  In between those two major cycle highs, Bonds & Notes were/are expected to decline for 2 – 3 years and then rebound into mid-2024.  That means that interest rates could slowly rise (and Bonds fall) in 2021 and 2022, possibly extending into 2023.

While cycles have projected that outlook for the past couple years, it was only in the past couple weeks that Fed Chairman Powell ‘shocked’ the markets by revealing an outlook that is uncannily similar to what cycles have been forecasting since 2019.

Longer-term investors and hedgers could have been liquidating long positions in Bonds & Notes and selling on intermediate rallies in 3Q/4Q ‘20.  Wait until new rebound highs (above 2Q ‘21 highs) are set before adding to short positions.”  

July 2021, INSIIDE Track

07-31-21 “Bonds & Notes are slowly validating the overall outlook for 20202023 in which interest rates have been forecast to slowly rise in response to developing inflation and other factors. That stems from a major, multi-year cycle peak in Bonds/Notes – and low in interest rates – projected for July 2020.

They have initially fulfilled ongoing analysis for a 3 – 6 month advance into July/Aug ’21 – when they are expected to set a secondary peak.  That would perpetuate an ~11-month low (Oct ’18) – high (Sept ’19) – high (Aug ’20) – high (July ’21) Cycle Progression.   

The primary peak in July ’20 perpetuated an uncanny 4-Year Cycle that timed multi-year highs in July ‘12 & July ‘16 and preceding lows in mid-2004 and mid-2008.  The next phase of that 4-Year Cycle comes into play in ~July 2024 and should time another multi-year (secondary) high. 

In between those two major cycle highs, Bonds & Notes were/are expected to decline for 2 – 3 years and then rebound into mid-2024.  That means that interest rates could slowly rise (and Bonds fall) in 2021 and 2022, possibly extending into 2023.

Longer-term investors and hedgers could have been liquidating long positions in Bonds & Notes and selling on intermediate rallies in 3Q/4Q ‘20… and could have just begun adding to short positions.”   

August 2021, INSIIDE Track

[Bonds peaked at 165 – 167, where new/additional short positions were recommended]

40-Year Cycle of Currency War

Throughout the 2010’s, INSIIDE Track meticulously and persistently detailed why 2016 – 2021 would be the culmination of the latest 40-Year Cycle of Currency War – and including a major, 4 – 5 year bull market in Gold (a precursor to what could unfold in 2023 – 2025 and beyond) as its value against the US Dollar consistently gained.

That would be a warning sign for what was likely to follow when the next 40-Year Cycle of Currency War began and when a major, concerted attack against global Dollar supremacy would be initiated.  Interest rates (and Bonds) were only one of the instruments that could suffer devastating consequences in the 2020’s…

09-01-21 “2021 remains as one of the primary focal points for the culmination – and transition – of diverse major cycles.  As stressed throughout the past decade, 2021 was forecast to time the fulfillment of the latest phase of the uncanny 40-Year Cycle of Currency Wars.

The overall period from 2016 – 2021 was projected to time another strong advance in Gold as it again battled the US Dollar and other fiat currencies for ‘supremacy;.  That was expected to be similar to the previous phases of that 40-Year Cycle – in 1976 – 1981, 1936 – 1941, 1896 – 1901, 1856 – 1861, 1816 – 1821 & 1776 – 1781 – and could time the swan song for the yellow metal.

At the opposite end of the spectrum, though paradoxically related, is the culmination of an inflationary boom in paper instruments – most notably stocks and debt instruments (bonds, notes, etc.)  Bonds & Notes were forecast to experience major, multi-year peaks in 2020 and to move steadily lower into 2022/2023.

As for equities, it is conceivable that stocks could stretch a final peak into 2022, based on a few overlapping cycles. 

One of those is the 40-Year Cycle that spanned the 1942 and 1982 lows – the two lows prior to major inflationary advances in equities (following 13 – 16 year volatile sideways patterns) – and which comes back into play in 2022

If stocks (at least some) set highs in 2022, it would fulfill a 40-year low-low-(high) Cycle Progression and turn the focus to 2023, when a 7-Year Cycle of Equity ‘Crashes’** (**defined as 20 – 40% declines) comes back into play.  That 7-Year Cycle timed the completion, or low points, of crashes that bottomed in Jan ‘16, Mar ‘09 and Oct ‘02.

This could easily be corroborated by the 16-Month Cycle and its half-cycle – the 8-Month Cycle (see diagram in adjacent column).  The 8-Month Cycle next comes into play in Jan/Feb ‘22 and has been discussed in the context of the converging ~2-Year Cycle – at that time…

Bonds & Notes have slowly rebounded since fulfilling analysis for an initial low in Mar ‘21.  That was projected to spur a 3 – 6 month advance into July/Aug ’21 – when they were expected to set a secondary peak.  That would perpetuate an ~11-month low (Oct ’18) – high (Sept ’19) – high (Aug ’20) – high (July ’21) Cycle Progression…   

On a broader basis, Bonds & Notes are slowly validating the overall outlook for 2020 – 2023 in which interest rates have been forecast to slowly rise in response to developing inflation and other factors.  Continued shortages – in everything from housing to automobiles – are likely to perpetuate some of that price inflation into 2022.

The primary peak in July ’20 perpetuated an uncanny 4-Year Cycle that timed multi-year highs in July ‘12 & July ‘16 and preceding lows in mid-2004 and mid-2008.  The next phase of that 4-Year Cycle comes into play in ~July 2024 and should time another multi-year (secondary) high. 

In between those two major cycle highs, Bonds & Notes were/are expected to decline for 2 – 3 years and then rebound into mid-2024.  That means that interest rates could slowly rise (and Bonds fall) in 2021 and 2022, possibly extending into 2023.

Longer-term investors and hedgers could have been liquidating long positions in Bonds & Notes and selling on intermediate rallies in 3Q/4Q ‘20… and could have just begun adding to short positions.”    

September 2021, INSIIDE Track

09-30-21 “For over a decade, 2021 has been forecast to usher in a seismic global shift – both in the markets and beyond them.  That does not mean that 2021 would be packed full with cataclysmic events.  It could be just the opposite – a bit like the eye of a hurricane in which a temporary cessation of the violent winds of change soon gives way to an equally or more intense ‘wind’. 

2021 was forecast to time the culmination of the latest phase of the uncanny 40-Year Cycle of Currency Wars – a battle that flares back up every ~40 years, pitting the proponents of fiat currency (paper, debt-backed script) against those that advocate hard currency (precious metals).  This battle was projected to time another strong advance in Gold – from 2016 (projected to be The Golden Year and usher in a new multi-year bull market in Gold) into 2021 as the two sides battle for currency supremacy. 

That would perpetuate an uncanny cycle that timed related battles in 1976 – 1981, 1936 – 1941, 1896 – 1901, 1856 – 1861, 1816 – 1821 & 1776 – 1781 and well before the founding of the US, dating back into the 1200’s.  Gold fulfilled that outlook…

Bonds & Notes fulfilled the 3 – 6 month outlook for an advance into July/Aug ’21 (when a secondary peak was forecast) after bottoming in fulfillment of analysis for an initial low in Mar ‘21. The July/Aug ’21 peak perpetuated an ~11-month low (Oct ’18) – high (Sept ’19) – high (Aug ’20) – high (July ’21) Cycle Progression.   

Notes turned their weekly trend down – confirming that peak – and then plunged, with Bonds still needing to confirm their 3Q ‘21 peak.  Recent Fed testimony provided another fundamental factor, corroborating the outlook that has been described since July ‘20.

On a broader basis, Bonds & Notes are steadily validating the overall outlook for 2020 – 2023 in which interest rates have been forecast to slowly rise in response to developing inflation and other factors.

Continued shortages – in everything from housing to automobiles and chips to human workers – are likely to perpetuate some of that price inflation into 2022.

The primary peak in July ’20 perpetuated an uncanny 4-Year Cycle that timed multi-year highs in July ‘12 & July ‘16 and preceding lows in mid-2004 and mid-2008.  The next phase of that 4-Year Cycle comes into play in ~July 2024 and should time another multi-year (secondary) high. 

In between those two major cycle highs, Bonds & Notes were/are expected to decline for 2 – 3 years and then rebound into mid-2024.  That means that interest rates could slowly rise (and Bonds fall) in 2021 and 2022, possibly extending into 2023.

Longer-term investors and hedgers could have been liquidating long positions in Bonds & Notes and selling on intermediate rallies in 3Q/4Q ‘20… and should have just added to short positions in Aug ‘21.”    

October 2021, INSIIDE Track

2022: The Second Salvo

The year of 2022 was forecast to see the next shift as interest rates were already in a new multi-year bull market and stocks were completing 10-Year, 20-Year & 40-Year Cycles – projected to trigger an initial 20 – 35% drop in equities from an early-January 2022 projected peak.  There are multiple reasons why a second sell-off is expected in 2024/2025… but at a specific time!

To reiterate, this is a MAJOR generational shift that is only beginning to unfold!

As further confirmation of that outlook, the 80-Year Cycle of War was forecast to return in late-2021 (through late-2025) and create a new set of challenges, exacerbating those that were already being met.  The second half of that War Cycle – beginning in late-2023 – overlaps Middle East War Cyclesthat return in September/October 2023 and intensify in 2024/2025. Bonds were already anticipating this type of turmoil, ‘casting shadows before’

01-05-22 “2016 – 2021 underwent another major economic shift and accompanying Currency War in line with the 40-Year Cycle of Currency Wars that has repeated since before the founding of the USA. 

As described throughout the 2010’s, that cycle was expected to usher in a heightened battle against US Dollar hegemony around the globe and likely result in a new reality that would subsequently unfold in the 2020’s. 

2016 – 2021 was forecast (in 2013 – 2016) to possess some subtle & some not-so-subtle ‘battles’ with a primary one projected to unfold between the US Dollar (fiat currency) and Gold (hard currency) – with Gold forecast to gain progressively throughout 2016 – 2021…

Bonds & Notes peaked in early-Dec with Bonds attacking their primary upside target based on the weekly trend pattern.  In mid-Dec, they created a divergent top (lower high in Bonds, higher high in Notes) after Notes had twice neutralized their weekly downtrend but could not turn that trend up.  That signaled a 1 – 2 month peak and spurred a quick reversal lower…

On a broader basis, Bonds & Notes are steadily validating the overall outlook for 2020 – 2023 in which interest rates have been forecast to slowly rise in response to developing inflation and other factors.

The Bond peak in July ’20 perpetuated an uncanny 4-Year Cycle that timed multi-year highs in July ‘12 & July ‘16 and preceding lows in mid-2004 and mid-2008.  That cycle projected that interest rates would slowly rise (and Bonds fall) in 3Q ‘20 – 3Q 2022, possibly extending into 2023.

Longer-term investors and hedgers could have been liquidating long positions in Bonds & Notes and selling on intermediate rallies in 3Q/4Q ‘20… and should have added to short positions in Aug ’21.”   — January 2022 INSIIDE Track 

01-29-22 “2016 – 2021 was the culmination of the latest phase of multiple 40-Year Cycles – expected to time another multi-year advance in Gold as part of recurring Currency Wars – and ultimately give way to real War Cycles in 2021 – 2025. 

The Currency Wars emerged right on schedule and Gold experienced the bull market that was forecast to last from late-2015 into late-2020/early-2021.  In many ways, those types of financial and/or societal shifts and instability are often harbingers of more overt and geopolitical shifts & conflicts smoldering below the surface…

War Cycles… in US & Europe

For the past 10 – 15 years, however, the primary focus of this ~80-Year Cycle of Wars has been the West… particularly America.  That cycle has been forecast to usher in a new phase in 2021 – 2025 – the latest in the following sequence of major conflicts that impacted Europe, England, and then N. America:

1301 – 1302 – Byzantine raids with Ottomans attacking Nicaea; Battle of Bapheus (following founding of Ottoman Empire in 1299);  Ottomans defeat the Byzantines – the Eastern Roman Empire – in the first major victory of what would be a ~600-year empire controlling Eastern Europe… a momentous shift.

1381 – Peasants’ Revolt  in England – a battle against high taxes, serfdom, etc. … and a 400-year precursor to 1775 – 1781.  

1461 – Battle of Towton (largest & bloodiest battle ever fought on English soil; ~28,000 died in a one-day battle; part of War of the Roses with three other major battles occurring in 1461.

1541 – Seige of Buda – led to 150 years of Ottoman control over Hungary (western extreme of Empire).

1621 – Final phase of Dutch Revolt (an ~80-year war triggered by over-taxation of Netherlands for ‘unnecessary wars’) began in 1621 after a 12-year truce.  1621 also marked the beginning of the end (1621–1629) of the religious wars throughout Europe.  

[Overlapping these phases, there was the corresponding 80-Year War – from 1568 – 1648 – in which the Dutch gained independence from Spain… another powerful corroboration of this 80-Year Cycle of War.]

1701 – War of Spanish Succession (another battle for independence; a precursor to 80 years later).

1781 – 1783 – Culmination of America’s Revolutionary War (began in 1775/1776)

1861 – 1865 – Civil War in USA (triggered by conflicts in 1855 – 1856)

1941 – 1945 – US entry into WWII (in Europe since 1936 – 1938)

2021 – 2025 Next Major Conflict?  Watch China, Russia AND Middle East.

The 80-Year Cycle of War timed the most noteworthy & destiny-altering revolts & battles of the last millennium – involving England, Europe & ultimately N. America.  Will History Repeat?…

Bonds & Notes remain in multi-week downtrends after setting divergent peaks in early- and mid-Dec. and triggering the onset of new declines.  The failure (Notes) and fulfillment (Bonds) of weekly trend signals at that time projected multi-week sell-offs that could be setting initial lows now. 

However, the overall decline from July ‘21 could stretch into March ’22 and fulfill an overlapping ~1-year high (Mar ’20) – low (Mar ’21) – (low; March ’22) Cycle Progression.  

On a broader basis, Bonds & Notes are steadily validating the overall outlook for 2020 – 2023 in which interest rates have been forecast to slowly rise in response to developing inflation and other factors.

The Bond peak in July ’20 perpetuated an uncanny 4-Year Cycle that timed multi-year highs in July ‘12 & July ‘16 and preceding lows in mid-2004 and mid-2008.  That cycle projected that interest rates would slowly rise (and Bonds fall) in 3Q ‘20 – 3Q 2022… extending into 2023.  Since that time, a ~1-year/~360-degree cycle formed a secondary peak in July ‘21 and could time a lower peak in July ‘22.

Longer-term investors and hedgers could have been liquidating long positions in Bonds & Notes and selling on intermediate rallies in 3Q/4Q ‘20… and should have added to short positions in Aug ‘21.”  

February 2022, INSIIDE Track

02-26-22 “For the past 6 – 7 years, INSIIDE Track has warned about the impending onset of War Cycles in 2021 – 2025… more specifically in late-2021 until late-2025.  This has been based on a powerful synergy of cycles – including multi-decade and multi-century cycles ranging from 360 & 720-year cycles to 40 & 80-year cycles and even 7, 8 & 11-year cycles. 

All of them collide in this brief period of time beginning in late-2021.  In the second half of 2021 (and also in the Jan & Feb ’22 issues), INSIIDE Track intensified this focus, preparing readers for what might unfold…

War Cycles… in Europe

In May & June 2016, INSIIDE Track was discussing the likelihood of Brexit occurring and explaining why the British Pound was destined to suffer a sharp drop from June ‘16 into early-’17.  Part of that analysis surrounded an 8-Year Cycle that is a key component of the larger-magnitude 80-Year Cycle of War. 

Both of those cycles are important factors in the ongoing outlook for late-2021/early-2022 to usher in a time of war in/for Europe, Asia and America.  Here is a small excerpt of related analysis:

“From a cyclic perspective, the startling aspect of this 8-Year Cycle – and its unfolding 7th phase (‘7’ also representing ‘completion’) – is that it is on a collision course with a larger and farther-reaching cycle…  the bigger 80-Year War Cycles that converge in 2021… In each case, there was a 5–6 year period of contributing events that fed into those wars… that recurs in 2016–2021.”

That analysis went on to list the sequence of 80-year war events… at the same time INSIIDE Track was detailing an uncanny 40-Year Cycle that impacts Russia and was projected to usher in a dramatic shift in her tactics, beginning in 2016/17 – 2021 and leading into War Cycles in late-2021 – late-2025.

Is it any surprise (cyclically-speaking) that Russia would trigger this latest invasion 7 – 8 years after her invasion of Crimea in 2014?

War Cycles… in Eastern Europe

There have been many reasons why the focus has remained steadfast on this time frame – late-’21 into late-’25 – for the recurrence of War Cycles.  A couple of them are much larger than the 80-Year Cycle. 

They are the 360-Year and overlapping 720-Year Cycles that have been discussed numerous times before and which have had a steady influence on Europe and the Middle East.

One of the intriguing aspects of this cycle is that it precisely timed the culmination or extreme of major military campaigns or empires in Europe – extremes that would remain intact for centuries to follow and time the beginning of major shifts in power… 2021 – 2025 is the next phase of this 360-Year Cycle and coincides with the 80-Year Cycle of War and several other related cycles.

War Cycles… in Russia/Ukraine

In 1999 – 2001, INSIIDE Track described a convergence of similar war cycles that pinpointed Aug – Oct 2001 as the time for a major attack involving the US.    In April 2000, the question was posed as to whether the US could be hit by another surprise attack on our shores – related to late-1941.

[More of these INSIIDE Track quotes from 1999 – 2001 can be found at https://www.insiidetracktrading. com/wp-content/uploads/2018/07/2001-war-market-cycles.pdf   See page 4 for other excerpts.]

Two of the prevailing cycles that led to those conclusions were a 7-related cycle (7, 14, 21, 28 & 84-year cycles) and the ~11-year Sunspot Cycle that often times the onset of wars.  That ~11-Year Cycle comes back into play in 2023 whereas the 7-Year Cycle recurs in 2022… reinforcing the outlook for a resurgence of War Cycles in late-2021 – late-2025.

More succinctly, there is a 21-Year Cycle that has timed major multi-national conflicts dating back to at least 1812 (War of 1812).  42 years later was the Crimean War in 1854 – a war that has an intriguing parallel to current events.  Since the beginning of the last century, that 21-Year Cycle has timed:

1917 – World War I

1938 – World War II/Holocaust

1959 – Viet Nam (North commits to war in South)

1980 – Soviet invasion of Afghanistan (sound familiar?); Iran/Iraq War

2001 – 9/11; Trigger for US involvement in Iraq & Afghanistan

2022 – ?? Next Phase of 21-Year War Cycle

2022 is no longer a mystery and can be filled in with ‘Russian invasion of Ukraine’… and whatever else might unfold in the next 10 months.

80-Year War Cycle… to the Day

A quick review of the Ukraine timeline reveals some intriguing War Cycle fulfillment as well.  On Nov 10, the US reported on Russian troops massing on Ukraine’s border.  On Nov 28, Ukraine concurred and reported 92,000 troops on their border.  Shortly after, the gauntlet was thrown down…

On Dec 7, 2021 – 80 years to the day from when the US was drawn into World War II – President Biden threatened Putin against invading Ukraine, timing the day the US was drawn into this conflict. 

Are cycles that precise?  If so, what do ALL of these cycles mean for 2022 – 2025?…

The Bond peak in July ’20 perpetuated an uncanny 4-Year Cycle that timed multi-year highs in July ‘12 & July ‘16 and preceding lows in mid-2004 and mid-2008.  That cycle projected that interest rates would slowly rise (and Bonds fall) in 3Q ‘20 – 3Q 2022, possibly extending into 2023.  Since that time, a ~1-year/ ~360-degree cycle formed a secondary peak in July ‘21 and could time a lower peak in July ‘22.

Longer-term investors and hedgers could have been liquidating long positions in Bonds & Notes and selling on intermediate rallies in 3Q/4Q ‘20… and should have added to short positions in Aug ‘21.”  

March 2022, INSIIDE Track

Solar Cycles II

The initial phase of major War Cycles was a normal reflection of geophysical and solar-related upheaval beginning to take hold in 2020 – 2022.  Those cycles of instability are expected to elevate in late-2023 through late-2025!  But that is a topic of discussion addressed in many other publications.  As for Bonds & interest rates…

03-30-22 “One of the underlying factors involved in the dramatic events of March 2020 – March 2022 (a period of two ‘Natural Years’) is the developing Solar Cycle.  As documented many times before, there has been an uncanny sequence of related events on a roughly 11-Year Cycle basis – the same cycle that governs the ebb and flow of sunspots and solar storms.

In the March ‘19 INSIIDE Track, this cycle was again examined and was used to forecast a new ‘Global-Shaping Event’ that would emerge in late-2019/early-2020 and lead to a ‘Stock Panic’ in early-2020. 

It is easy to now see that global shaping event, which triggered a major stock panic, was Covid-19.

It is the other part of that conversation, however, that is now coming to fruition.  In that analysis, INSIIDE Track discussed how the initial economic events of that ~11-Year Cycle were often and increasingly leading to military conflicts in the ensuing years. 

More importantly, from a longer-term perspective, that analysis concluded that each phase was pushing Russia and China closer together with an ‘enemy of my enemy is my friend’ mentality even as the global order was going through consistent upheaval within 2 – 3 years of the initial 11-Year Cycle event…

Bonds & Notes continue to fulfill the 1 – 2 year outlook (and the 3 – 5 year outlook since mid-2020) as well as the overall outlook for 2022.  From a very general perspective, Bonds & Notes were expected to decline from July ’21 into March ’22 and set an intermediate low at that (this) time.

A multi-month bottom in March ’22 would fulfill a corresponding ~1-year high (Mar ’20) – low (Mar ’21) – (low; March ’22) Cycle Progression and set the stage for a 3 – 6 month bottom.  If they bottom in Mar ’22, a 50% rebound in time (8 months down/4 months up) would also culminate with a July ’22 peak.

The next 3 – 6 month peak is still expected in July ’22, in line with a ~1-year high-high-(high) Cycle Progression and the midpoint of the 4-Year Cycle Progression that helped time the July ’20 peak.

The Bond peak in July ’20 perpetuated an uncanny 4-Year Cycle that timed multi-year highs in July ‘12 & July ‘16 and preceding lows in mid-2004 and mid-2008.  That cycle projected that interest rates would slowly rise (and Bonds fall) in 3Q ‘20 – 3Q 2022, possibly extending into 2023.  An intervening (lower) peak in July ‘22 – at the midpoint of that cycle – would corroborate it and reinforce the overall outlook.

On a multi-year basis, Bonds & Notes have now exceeded the magnitudes of their 2016 – 2018 declines – adding another level of validation to the outlook for a bear market from mid-2020 into 2023. 

Longer-term investors and hedgers could have liquidated long positions in Bonds & Notes in 3Q ‘20 and have sold intermediate rallies in 3Q/4Q ‘20 and then added to short positions in Aug ‘21, in sync with trading strategies described in INSIIDE Track.  3 – 6 month traders can cover a portion of these short positions now, anticipating some consolidation and a rebound into July ’22.”   

April 2022, INSIIDE Track

[Bonds spiked down to ~135-00/US, where partial covering of short positions was recommended]

05-27-22 “Bonds & Notes reached major support and set what could turn out to be 2 – 3 month lows.  Bonds provided a brief spike low that reached a trio of range-trading targets near 135-00/US – similar to what the Russell 2000 did at 1710/QR.

Since 2019, Bonds repeatedly found pivotal resistance and support around 155-00 & 165-00/US – spending ~8 months in that range in 2019/2020 and then another 10+ months in the same range in Feb – Dec ’21.  In 2020, after breaking above 165-00/US, Bonds surged to related targets at 175, 185 & ultimately 195-00 – a series of ~10-0/US ranges.

After breaking below 155-00/US in early-2022, Bonds dropped to – and blew through – their first downside range target at 145-00 and were targeting a drop to the second range target at 135-00/US.  A related sequence of ~20-point ranges – at 195, 175 and 155 – also projected a drop to 135-00/US.

Since late-2021, they had traded in a related (~15-0/US) range, first between 165-00 and 150-00/US.  After Bonds broke below 150-00, they rebounded to test that level of ‘support turned into resistance’ and were immediately repelled.  That projected a related ~15-00/US drop to ~135-00/USM.  As a result, three range-trading objectives aligned at ~135-00/USM.

Bonds spiked down to 134-30/USM and bottomed, fulfilling those range targets as Notes reached a similar level near 117-00/TY.  Both quickly turned their 2 – 4 week trends up and were projected to initially rally – on balance – into June 3 – 10

That would fulfill a 50% rebound in time (~2 months down/~1 month up) and the latest in a series of ~90-degree/~3-month cycle highs (early-Sept & early-Dec ’21 and early-Mar & early-June ’22). 

The next 3 – 6 month peak is still expected in July ’22, in line with a ~1-year high-high-(high) Cycle Progression and the midpoint of the 4-Year Cycle Progression that helped time the July ’20 peak.

Longer-term investors and hedgers could have liquidated long positions in Bonds & Notes in 3Q ‘20 and sold intermediate rallies in 3Q/4Q ‘20 and added to short positions in Aug ‘21, in sync with trading strategies described in INSIIDE Track.  3 – 6 month traders can cover a portion of these short positions, anticipating a rebound into July ’22.”   

June 2022, INSIIDE Track

[Bonds spiked down to ~135-00/US, where partial covering of short positions was recommended]

Initial Lows

Bonds fulfilled analysis for initial 3 – 6 month lows in May/June ’22 and were forecast to spur a rebound into early-August 2022 – when the next multi-month peak was most likely…

06-30-22 Bonds & Notes, on an intra-month basis, spiked below major support at their 2018 lows – ~136 – 137-00/US & ~117 – 118-00/TY – but would not signal a break of that support until/unless a monthly close below it.  That also had Bonds retesting pivotal range support at ~135-00/US.  That was/is the convergence of ~10-point, ~15-point & ~20-point ranges created over the past several years.

This action leaves intact the potential for a sizeable rally between mid-June and late-July, possibly stretching into early-Aug ‘22 – before the next multi-month peak is expected.

On a monthly cycle basis, Bonds & Notes could see a substantial rally – in the next ~4 weeks – and perpetuate a ~12-month/~360-degree cycle that has timed sequential highs.  They set pairs of highs in July/Aug ’18, July/Aug ’19, July/Aug ’20 & July/Aug ’21 (the most recent two phases – in 2020 & 2021 – were both set during the first week of August). 

These annual cycles reinforced the ~4-Year Cycle that timed multi-year peaks in July ’12, July ’16 & July ’20 (and which is likely to time a lower high in ~July ’24).  If they are going to fulfill analysis for another multi-month high in July ’22(potentially stretching into early-Aug ’22), Bonds & Notes would need to rally back to 145 – 150/US & 122-00 – 124-00/TY or higher – by early-Aug.

Longer-term investors and hedgers could have liquidated long positions in Bonds & Notes in 3Q ‘20 and sold intermediate rallies in 3Q/4Q ‘20 and added to short positions in Aug ‘21, in sync with trading strategies described in INSIIDE Track.  3 – 6 month traders could have just covered a portion of these short positions, looking to re-establish in early-Aug.”  — June 2022 INSIIDE Track

[Bonds began the month of August 2022 near 143-16 and rallied to ~146-00/US in the opening days… before reversing back down and resuming the overall, 2 – 3 year downtrend.]

07-28-22 “After dismissing and minimizing the threats of inflation in 2020 and 2021, the Fed is now scrambling to catch up and ‘right their wrongs’.  And as is usually the case, that will cause the pendulum to impulsively and reactively swing too far in the opposite direction.

There are, however, other complications on the 1 – 3 year time horizon.  Some of them are linked to the ~10-Year Cycle of Inflation reiterated in a recent Weekly Re-Lay Alert (see pgs 4/5). Combined with escalating geopolitical tensions and the long-term outlook for a Dollar peak in 2023, another round of serious inflation could be just a couple years away…

The diagram above reinforces previously-published analysis (2020) that explained why a major bottom in inflation and interest rates was cyclically inevitable and why a ~2-year surge should follow. 

The CPI has followed a textbook Cycle Progression pattern on a ~10-year basis – first timing successive highs in 1970, 1980, 1990 & 2000 and then timing successive lows in 2010 (Jly ‘’09) and 2020.  (It also created a reinforcing ~5-year low-low-low Cycle Progression with lows in ~2010, 2015 & 2020.)

Following the July ’09 low, the CPI rallied for 26 months – peaking in Sept ’11.  Following the May ’20 low, the CPI has rallied for 25 months – hitting its highest level (in over 40 years) in June ’22.  That pattern also augurs a peak in the coming month(s)… 

Leading into early-2020, INSIIDE Track was repeatedly forecasting major multi-year lows in the majority of commodities with those like Lumber, grains, the oil complex and Natural Gas projected to set 2 – 3+ year lows and enter an initial surge into mid-2021 and an overall 2+-year rally as many of these cycle lows were 4 – 5 years or longer in duration (portending 2 – 3 year rallies to follow).

At the same time, stocks had triggered 6 – 12 month buy signals in March ’20 and were forecast to surge into 2021, with some stretching into early-2022… also linked to this 40-Year Cycle of Inflation.

Helping to kickstart this initial surge in inflation (from March ’20 into April/May ’21), the US Dollar was forecast to undergo a ~year-long decline from March ’20 into 1Q ’21 and back down to ~88 – 89.00/DX.  Sure enough, the Dollar did exactly that and gave commodity inflation the impetus it needed to confirm a bottom and build some upside momentum.

Throughout 2021, the focus was shifted to 3Q ’22 as the time for the culmination of a second wave of inflation – overlapping the time when equity markets were projected to be suffering an initial sell-off.

That is where most of these markets now find themselves as signs of an inflationary peak coincide with the potential for an initial low in equity values.

There could be a third wave of inflation… after the US Dollar has peaked and interest rates have plateaued… but that is the topic for another discussion…

3Q ’22 is a critical time with respect to that analysis – when an inflationary peak has been forecast (since mid-2020)… 

Bonds & Notes are moving in lockstep with inflationary expectations for 2020 – 2022 (see pages 4 – 5) and with analysis for a multi-year peak in mid-2020 followed by a 2 – 3 year decline.

On an intermediate basis, they were projected to rebound from their mid-June low into late-July/early-Aug ’22 – the latest phase in a ~12-month cycle that has timed highs in July/Aug ’18, July/Aug ’19, July/Aug ’20 & July/Aug ’21.  They are fulfilling this…

From a price perspective, Bonds & Notes were expected to ideally rally back to 145 – 150/US & 122-00 – 124-00/TY+ before a top is set.  They are nearing those target ranges as early-Aug ’22 cycles near, so a multi-month period of congestion could be unfolding.

Longer-term investors and hedgers could have liquidated long positions in Bonds & Notes in 3Q ‘20 and sold intermediate rallies in 3Q/4Q ‘20 and added to short positions in Aug ‘21, in sync with trading strategies described in INSIIDE Track.”    

August 2022, INSIIDE Track

(Initial) Inflation Peak

For two years, INSIIDE Track had projected inflationary gauges to signal a multi-year peak in 3Q 2022.  That would only be recognized a year or two after the fact… and likely after the pendulum had swung too far in attacking that inflation.  Bonds were still likely to see additional declines since the reactive Fed would still be raising interest rates for months to follow…

09-30-22 Bonds & Notes have dropped to new multi-year lows after rallying into, and peaking during, early-Aug ’22 – the latest phase in a ~12-month cycle that has timed highs in July/Aug ’18, July/Aug ’19, July/Aug ’20 & July/Aug ’21 – and attacking upside targets at 145 – 150/US & 122-00 – 124-00/TY. 

That was expected to time a multi-month peak and spur a new wave down, corroborated when Bonds & Notes turned their weekly trends down.  They have since fulfilled that and are matching the duration of their 2016 – 2018 declines – an indication this decline could be nearing a multi-month bottom.

On a broader basis, they are moving in lockstep with inflationary expectations for 2020 – 2022 and with analysis for a multi-year peak in mid-2020 followed by a 2 – 3 year decline. 

Within that context, several factors continued to point to Sept ‘22 as the ideal time for a peak in multiple inflation factors – some of which are already validating that outlook.  Many commodities, and the GSCI, have already peaked and turned down.

Related economic indicators, (CPI, PPI, PCE, etc.) will not be able to validate or negate this outlook (for a Sept ’22 peak) for another month or so, but related markets are expected to begin confirming in the coming weeks.  Oct ‘22 could be revealing.

Looking out over the next 3 – 6 months, the most likely time for the next multi-month peak is in 1Q ’23.  That is the next phase of a 17 – 18 month low-low-high-high-(high?; Jan/Feb ‘23) Cycle Progression and a ~5-month high-high-(high?; early-Jan ‘23) Cycle Progression.  In and of itself, that does not pinpoint when a preceding low (or lows) is most likely but does add an important clue to the overall outlook.

Longer-term investors and hedgers could have liquidated long positions in Bonds & Notes in 3Q ‘20 and sold intermediate rallies in 3Q/4Q ‘20 and added to short positions in Aug ‘21, in sync with trading strategies described in INSIIDE Track. 

3 – 6 month traders could have covered a portion of these short positions in June and could now cover another portion of those shorts at this time.”     

October 2022, INSIIDE Track

[Bonds spiked below 118-00/US in October 2022 and set a multi-month bottom – that could turn out to be a 6 – 12-month bottom.  They were projected to rally into Jan/Feb 2023 before reversing back down and resuming their overall, 2 – 3 year downtrend.]

10-31-22 Bonds & Notes are showing signs of a multi-week bottom after spiking down to (or briefly below) monthly support levels during the month (Oct ’22) when they matched the duration of their 2016 – 2018 declines (July ’16 – Oct ’18 & July ’20 – Oct ’22) AND fulfilled an opposing 4-Year Cycle from the Oct ’18 low.  (That 4-Year Cycle also timed many highs.)

Corroborating the potential for intermediate lows, they matched the magnitudes of their preceding Mar – Jun ’22 declines at their recent lows.  That wave structure, timing, and price pattern analysis reinforced the potential for interest rates to peak in Oct ’22 & usher in a multi-month rebound in related interest rate futures.

On a multi-year basis, inflation remains the primary driver and Bonds/Notes remain weak – dropping to new multi-year lows after rebounding into early-Aug ’22 – the midpoint of the ~4-year high-high cycle that timed the July/Aug ’20 peak and the latest phase of a ~12-month high-high-high-(high) Cycle Progression.

The next similar multi-month peak is likely in 1Q ’23 – the next phase of a 17 – 18 month low-low-high-high-(high; Jan/Feb ‘23) Cycle Progression and a ~5-month high-high-(high) Cycle Progression. 

If it stretches into early-Feb ‘23, that high would also arrive at the midpoint of the 12-month cycle that just timed the early-Aug ‘22 peak… There are critical factors that could help influence price action leading into the next multi-month peak:

— During the rebound into early-Aug, Bonds & Notes reached upside targets at 145 – 150/US & 122-00 – 124-00/TY, fulfilling the price and timing targets for a new (lower) multi-month peak and reversal lower.

— They also generated 4-Shadow Signals, projecting a subsequent drop to new lows followed by a higher-magnitude advance.  (That drop to new lows has since been fulfilled but a new advance has not yet taken hold.) 

— By dropping to new lows, Bonds & Notes have fulfilled the criteria for a 5-wave decline (from 2020) with the early-Aug ’22 highs representing wave ‘4’.  (Eurodollars fulfilled the criteria for a ‘5th of 5th of 5th’ wave decline from the 2020 peak.)

Combining all three of these factors, Bonds & Notes could steadily make their way back toward the early-Aug ’22 highs, leading into ~Feb ’23, IF a multi-month low takes hold at/near current levels.

Longer-term investors and hedgers could have liquidated long positions in Bonds & Notes in 3Q ‘20 and sold intermediate rallies in 3Q/4Q ‘20 and added to short positions in Aug ‘21, in sync with trading strategies described in INSIIDE Track. 

3 – 6 month traders could have covered a portion of these short positions in June and could now cover another portion of those shorts at this time.”   

November 2022, INSIIDE Track

[Bonds spiked below 118-00/US in October 2022 and set a multi-month bottom – that could turn out to be a 6 – 12-month bottom.  They are projected to rally into Jan/Feb 2023 before reversing back down and resuming their overall, 2 – 3 year downtrend.]

Result

RESULT:  Bonds peaked in July 2020 as corresponding interest rates bottomed.  They plunged into October 2022 and were forecast to rebound into late-Jan/early-Feb ’23 before a 6 – 12 month peak takes hold (that would reinforce the outlook for a subsequent peak in ~July 2024).  Another multi-month decline would likely follow.

Traders were advised to exit multi-year long positions in Bonds in 3Q 2020 and then triggered into short positions in September 2020 (around 178-00/US) and again in (around 165-00).  Partial short-covering was recommended in May/June 2022 – near 135-00/US – and again in October 2022 (~126-00 down to ~118-00/US) after a rebound into early-August 2022.

A single contract of 30-Year Bond futures is $1,000 per 1 basis point move.  With moves of ~40-0+ basis points and ~30-0 basis points, respectively (into May/June ’22 lows) – and ~50-0+ basis points and ~40-0 basis points, respectively (into October ’22) – the published sell signals provided significant opportunities for INSIIDE Track readers in 2020 – 2022.  FUTURES TRADING INVOLVES SUBSTANTIAL RISK!!!

Subsequent 6 – 12-month peaks are forecast for early-February 2023 & July 2024.

This initial 2 – 3 year decline in Bonds is likely to be just the first stage in a much larger shift.  3Q 2024 ushers in the next phase of that ‘jolt’ and could be a reaction to US Dollar movement.  See related analysis and discussions.

A few related links:

7-30-20 – https://40yearcycle.com/uncategorized/interest-rates-poised-to-rise-along-with-inflation-time-to-exit-bonds/

8-29-20 – https://40yearcycle.com/uncategorized/interest-rates-poised-to-rise-40-year-cycle-of-inflation-returns/

9-29-20 – https://40yearcycle.com/uncategorized/interest-rates-poised-to-rise-on-developing-multi-year-inflation-cycle/

10-31-20 – https://40yearcycle.com/uncategorized/bonds-inflation-on-horizon/

11-28-20 – https://40yearcycle.com/uncategorized/interest-rates-confirming-july-20-4-year-cycle-low-inflation-looms/

01-04-21 – https://40yearcycle.com/uncategorized/interest-rates-portend-2021-resurgence-of-inflation-bonds-notes-concur/

01-28-21 – https://40yearcycle.com/uncategorized/interest-rates-bonds-project-inflationary-2021-what-about-2022-23/

02-27-21 – https://40yearcycle.com/uncategorized/bonds-project-march-21-low-inflation-growing/

05-28-21 – https://40yearcycle.com/uncategorized/solar-cycle-synergy-impacting-grains-spurring-inflation-in-2020-2022/