Treasury yields continue to fall
You can low lend money to the US government for 10 years for less than 1%. With Fed cuts in play and a flight to safety, the 10-year yield it a record low of 0.9990%.
That's a massive cross-asset psychological level and signals that the bond market doesn't think this is anywhere close to the end. For gold bulls, this is great news as the extra yield from holding bonds approaches the zero-yield of gold without the currency risk.
So we're forecasting sub-1% inflation now.
