Have Bonds Lost Enough Ground to Imply Some Relief?
Have Bonds Lost Enough Ground to Imply Some Relief?
Abstract
Rates are as high as they've been in 14 years and have moved relentlessly higher since August 2nd. Bouncing back a bit after data (mostly thanks to Philly Fed -9.9 vs. +2.8 f'cast) Is it enough weakness to hope for a technical bounce ahead of the Fed? It doesn't make much sense to count on anything until we actually see what the Fed has to say. Methodical, mechanical, linear selling pressure. But it doesn't made much sense. The Fed is not to count. It doesn’t make muchsense.
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