commodity index inflation signal
"GSG is ripping higher (up ~30% YTD) and I view the commodity-basket surge as a bullish signal for inflation/interest-rate uncertainty that investors should track for macro/regime clues."
"I view GSG as a real-time inflation signal that needs to fall materially from its ~34% YTD gains (down ~7% today) for Fed rate-cut odds and lower 10-year yields to become more likely."