Gundlach ratio suggests 10 Year Yields will continue to climb.

The Gundlach ratio tracks the ratio of copper prices to gold as an indicator of future US 10 Year Yields. Gundlach believes in the predictive value of the ratio since copper is sensitive to swings in the economy, while gold climbs when investors get frightened. You can see the correlation with the US 10 Year Yield rate is around at least 95% most of the time, although the correlation does loose connection, but then returns.

Copper has been on a tear (especially since the Chinese returned from their Lunar Holiday) hitting a most recent high of 4.18 per lb, while Gold has dropped below $1800, bottoming at 1760 at the prospect on real yields becoming positive. This has increased the Gundlach ratio and you can see how US10Y rates have also been driven higher.

With copper forecast to go even higher and Gold's future potentially a little less certain (especially as funds are diverted to Bitcoin) this bodes well for future higher 10 year rates.