Commodity prices rising again as are bond yields globally/C&I loans outstanding keep shrinking/Other

With WTI now above $85, higher by almost $2 today, I do want to point out that the CRB index closed yesterday at the highest level since August 2022. We'll have to see how this flows thru inflation if sustained in coming months/quarters but it certainly won't help, particularly on the energy side and will further complicate the job of the Fed. We remain bullish and long on energy, precious metals, fertilizer, uranium and copper stocks. 

Rate cut odds by the way for the June meeting are now under 50%, as of 40% right now. Odds for one by July though are at 96%. The US 10 yr yield is quietly rising to the highest level since late November. I remain bearish on duration and expect the 10 yr yield to retest the 5% at some point this year. 

CRB Index

US 10 yr Yield

I forgot to mention yesterday that for the week ended 3/20, C&I loans outstanding fell for the 5th week in the past 6 and at $2.739 Trillion, is at the smallest level since September 2022. How strong is the US economy when banks that are in the business of lending aren't lending and businesses don't feel like borrowing?