I hit up the Yellowstone River in Paradise Valley last night after work. The fish were actively feeding on big dry flies tossed tight against the bank. Water clarity was not an issue, and flows were at a comfortable level. Although I mostly fished salmonfly imitations, there were plumes of caddis fluttering around with the occasional yellow sally landing on your arm to say hello. Most brown trout were hiding in the slow edge water along the flooded willows and under overhanging trees. Although float fishing on the Yellowstone is probably the most popular way to fish, wade fishing like I did yesterday allows you to pick apart small holding pockets and get a really accurate cast into tight cover. A dropper rubberlegs or caddis dry also produced several fish. Good luck.