The bond market is generally considered more sophisticated than most other markets, which is often attributed to the fact that professional investors and institutions more typically trade bonds than do retail investors (whereas retail investors and other speculators less privy to information are more likely to trade equities). In any case though, we can source signals from the bond market about other assets.
An example is oil. I recently touched upon Canada's exposure to oil (via exports) in a recent article of mine on the NZD/CAD currency pair. In short, due to Canada's direct exposure