02-10-2026 Gold and Silver are “Dazed and Confused”
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Rates Dazed and Confused for so long it’s turned blue.
Wanted a rally, jobs made it come true.
Commodities go wild, while rates chill. Bank of America’s Bubble Risk Indicators for gold and silver signaled a bubble-like instability just as things broke loose.
Regardless of Friday’s rally, mortgages and Treasuries are staying in their defined lanes. Mortgages remain bullish while Treasuries hold to their bear trend. The 10-year yield seeks to wear path from 4.33 to 4.13. Knocking down 4.13 can invigorate a move to 4%.
Range trading, maybe, here it comes again.
These views are mine. Avoid confusion by signing up at les@parkerandcompany.net.
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Song: Dazed And Confused (1967) Jake Holmes’ song was reworked by The Yardbirds. Led Zeppelin reworked it in 1968, which is the popular version.
Les Parker, CMB Managing Director, Transformational Mortgage Solutions
Les Parker is the Managing Director at Transformational Mortgage Solutions Advisory Board Member for Ainsworth Advisors; and has served as the Senior Vice President of Industry Relations and Consulting at LoanLogics, a technology and services provider focused on improving mortgage loan quality, performance, and reliability throughout the loan life-cycle. His responsibilities included managing the company’s life of loan analytics and monitoring capabilities, overseeing consulting services, contributing to the strategic planning team, and communicating with industry leaders to develop and maintain positive relationships. He focused on identifying threats and strategic opportunities. Parker has executive mortgage banking experience in capital markets, servicing, operations, production, and financial management. Parker has served as director of the largest private issuer of CMOS. His educational background covers music, religious studies, mortgage banking, mathematics, and business administration. Parker holds a BBA in Finance, and other degrees, and has held numerous securities licenses. Parker is a Master Certified Mortgage Banker, a designation conferred by the Mortgage Bankers Association. Parker writes, speaks, and provides audio content, Since the late 1980s, he publishes a daily newsletter connecting global macroeconomics to the US interest rate movement.