Mon, Jun 10 2019, 8:58 AM
In the week just past, bonds moved aggressively sideways at long-term yield lows after coming out of the gate strong on Monday. There were several n...
Fri, Jun 7 2019, 5:35 PM
The labor market has been the last bastion of defense against the various threats to the current economic expansion. Inflation may be intractable. ...
Fri, Jun 7 2019, 8:25 AM
In the day just past, bonds managed to hold perfectly flat despite several big-ticket market movers in play. These included the European Central Ba...
Thu, Jun 6 2019, 6:03 PM
In hindsight, it's been a boring week for bonds with each trading day falling mostly inside Monday's range and easily inside the 2-day range set by ...
Thu, Jun 6 2019, 8:58 AM
In the day just past, bonds maintained a range that fell almost perfectly inside the range from the previous day. The same was true of the previous...
Wed, Jun 5 2019, 5:00 PM
Yesterday was the first day of major selling that we've seen in more than a month in that 10yr yields moved up more than 5bps from the previous clos...
Wed, Jun 5 2019, 9:14 AM
In the day just past, bonds put in their biggest day of weakness since mid-April on what looks to have been a purely technical correction. It was an ...
Tue, Jun 4 2019, 8:45 AM
In the day just past, bonds continued to push feverishly into the lowest yields since 2017. In fact, 10yr yields were only about 1bp away from the l ...
Mon, Jun 3 2019, 9:17 AM
Trading weeks don't get much more action-packed that this. Bonds are coming off a surprisingly stellar week. After Trump turned his trade war comm...
Fri, May 31 2019, 4:56 PM
After at least 2 days of (or more) of relatively disconnected markets (i.e. trading levels weren't reliably following any single market mover), today ...
Fri, May 31 2019, 8:34 AM
In the day just past, bonds traded an "outside day" (high and low yields of the day fell OUTSIDE the highs and lows from the previous day). This sign...
Thu, May 30 2019, 9:27 AM
In the day just past, bonds started out in stronger territory only to lose ground by the closing bell. This wasn't necessarily destined to be the cas...
Wed, May 29 2019, 5:05 PM
The bond market started the day off in much stronger territory after solid overnight gains. These could be viewed as a factor of weak equities market...
Wed, May 29 2019, 9:26 AM
In the day just past, bonds extended a rally that was called into question by last Friday's narrow, sideways trading day. Credit was primarily due to...
Tue, May 28 2019, 5:53 PM
Bonds rallied sharply today on a combination of factors that are debatable in their direct bond market implications. In a general sense, European bon...
Tue, May 28 2019, 9:59 AM
In the week just past, bonds threw a vicious head-fake. After 2 weeks spent moving lower inside a well-established trend, yields looked to be breakin...
Fri, May 24 2019, 5:53 PM
Today's headline could just as easily serve as the entire recap. By the time we get past the fact that Durable Goods came out much weaker than expect...
Fri, May 24 2019, 8:52 AM
In the day just past, both stocks and bonds too part in a big risk-off trading pattern (stock prices and bond yields moving lower). Inspiration came ...
Thu, May 23 2019, 5:49 PM
Both stock prices and bond yields moved sharply lower today for a combination of reasons. Trade tensions are ongoing, with visible effects being in...
Thu, May 23 2019, 9:12 AM
In the day just passed, bonds rallied somewhat sharply as headlines suggested Theresa May was soon to be ousted as Britain's prime minister. Is it po...
Wed, May 22 2019, 5:11 PM
Last we checked, it was going to be October before Brexit had its next hard deadline. So it was quite the back burner sort of market mover this week-...
Wed, May 22 2019, 9:18 AM
In the day just past, bonds continued moving higher in yield, adding distance between themselves and the unexpectedly low levels seen during the trade...
Tue, May 21 2019, 5:11 PM
Bonds have been threatening to end their pleasantly surprising stint of gains over the past few weeks on each of the past 4 business days. Yesterday'...
Tue, May 21 2019, 9:31 AM
In the day just past, bonds weakened moderately amid the lightest volume in more than 3 weeks and a relative absence of market moving data/events. Th...
Mon, May 20 2019, 6:25 PM
Both stocks and bonds have been edging back into less panicked territory after trade war drama fizzled out last week. In other words, stock prices an...
Mon, May 20 2019, 9:42 AM
In the week just past, bonds managed to extend the already unexpected gains that began on May 6th following a sharp escalation in US/China trade war r...
Fri, May 17 2019, 4:01 PM
Bonds began the overnight session in unchanged territory but began to improve on various news reports that fueled a global flight-to-safety. These in...
Fri, May 17 2019, 8:53 AM
In the day just past, bonds enjoyed a break in trade-related headlines, an absence of new Italy/EU drama, and a reasonably informative set of economic...
Thu, May 16 2019, 5:57 PM
Bonds finally moved in a less friendly direction today after 3 solid days of gains. The losses were logical, though, considering an absence of geopol...
Thu, May 16 2019, 7:54 AM
In the day just past, bonds rallied profusely on news that Italy would defy EU budget rules in laying out expenditures to stimulate its economy, thus ...
Wed, May 15 2019, 5:07 PM
Interestingly enough, the most interesting thing that happened to the bond market today happened in the overnight session. It accounted for most of...
Wed, May 15 2019, 8:27 AM
In the day just past, bonds put in an extremely calm trading session with the lowest volume and volatility in weeks. Treasuries ebbed inconsequential...
Tue, May 14 2019, 4:41 PM
From a volume standpoint, today was only a bit more than half as big as the highest recent days. And you'd have to go back to April to find anyth...
Tue, May 14 2019, 8:32 AM
In the day just past, bonds and especially stocks remained transfixed by trade-related headlines. This follows an entire week marked by the same preo...
Mon, May 13 2019, 5:25 PM
Trade war trading struck back today, just when you thought you'd seen the last of it on Friday. In this installment, news stories about various respo...
Mon, May 13 2019, 9:56 AM
In the week just past, markets were slavishly tuned-in to headlines and developments surrounding US/China trade relations . This generally resulted ...
Fri, May 10 2019, 5:46 PM
Trade-related headlines continued to be all the market cared about for one final day this week. They went both ways, but by the end, it was clear we'...
Fri, May 10 2019, 8:31 AM
In the day just past, markets continued to gyrate on trade war headlines more than anything. The overnight session saw some bond buying on tough talk...
Thu, May 9 2019, 4:44 PM
It's been an interesting week so far with trade war developments taking bonds in an unexpected direction unexpectedly quickly and MBS underperforming ...
Thu, May 9 2019, 9:13 AM
In the day just past, bond markets put in their first losing session after 3 straight business days moving in a friendlier direction. Chalk that up t...
Wed, May 8 2019, 5:24 PM
First thing in the morning, it looked like we had a chance to see another trade-war-driven bond rally. A Reuters story that detailed the US/China com...
Wed, May 8 2019, 9:07 AM
In the day just passed, bonds continued to rally as more details about recent trade war drama unfolded. Actually, those details unfolded late Monday ...
Tue, May 7 2019, 6:15 PM
For the second straight day, US/China trade relation uncertainty dominated financial markets. Volume was up across the board with Treasury yields and...
Tue, May 7 2019, 8:53 AM
In the day just past, a weekend Trump tweet announcing increased tariffs on China sent bond yields and stock prices much lower. Both bounced back thr...
Mon, May 6 2019, 5:13 PM
Today represented a classic example of the old market adage "buy the rumor, sell the news." It also offered two different takes on that strategy fr...
Mon, May 6 2019, 8:59 AM
The week begins with bonds trading in much stronger territory thanks to a surprise US/China trade announcement from Trump over the weekend. This cha...
Fri, May 3 2019, 5:28 PM
Bond traders can book profits on bond purchases by selling, or on bond sales by buying. Today was characterized by the latter.
Logically, traders...
Fri, May 3 2019, 8:22 AM
In the day just past, bonds sold off due to what appears to be market dissatisfaction with a hawkish message from the Fed. This largely came courtesy...
Thu, May 2 2019, 5:38 PM
Treasuries weakened today as traders continued to price out a friendly Fed. This wasn't necessarily destined to be the case after yesterday's Fed Ann...
Thu, May 2 2019, 10:31 AM
2.50% has been more than just a reasonably round number marking the midpoint between 2.0% and 3.0% as far as 10yr Treasury yields are concerned. Actu...
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