Even Modest Losses Would be a Victory of Sorts
Even Modest Losses Would be a Victory of Sorts
Abstract
Bonds had a good overnight session with fairly steady gains in both Asia and Europe. Kwarteng, the British Finance Minister who kicked off the worst of the recent rate drama (3 weeks ago today) resigned, but the British PM has made several comments that leave some doubt as to how much things will change as a result. We began the day hopeful that 10yr yields could continue respecting the ceiling of the new, higher range. That looked like it would be easy. That would be hard to be easy at first. But it's not something we'd take for granted. to be easy to take for Granted.
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