Here is the anomaly facing the US markets, the dollar, gold and BTC

As the USD/JPY edges a little higher right now I am minded to note something about the price action across the US bond and equity markets. You see the US stock markets are setting records left right and centre, but against that backdrop US bonds are falling. That is not often the case we see such a divergence- stocks rising with rising yields. In fact that US 2 Year is pressing a little higher again as I write and of course that means the bond price is falling. This is feeding the rebound in the dollar right now too. Perhaps eventually something will give, but this is posing something of a problem for the more usual dynamics; that see the dollar often fall when stocks rise.  It is not helping gold either right now. In truth there seems little reason for gold to rise much at the moment. This is also denting flows into Crypto. I noted that fact yesterday and that has been endorsed by data I see on the wires today, indicating that recent flows into BTC ETFs have now slowed. Bitcoin is right now trading back underneath 51k this morning