I thought your thesis was yield has to go down, when it's clearly quite the opposite

Yes .. nothing ever goes down in a line .. besides Gold is always a better hedge in turbulent times .. that's is why my portfolio is always 30 : 30 : 30 :: BTC : GLD : VTI .. Coming from Jack Bogle class of investing , I used to be 60 : 40 .. but I gave up on bonds in favor of BTC and Gold .. cuz Gold is ultimate hedge and BTC is good Karma ! Despite my own investments ( and temporary losses ) I still like Trump Bessant stgy .. someone is atleast trying to cover main street ..

Besides ..that is exactly why it is called reverse repo .. people who were long are selling to cover their losses ... It will fall sharper tomorrow..