1 Step Back and 1 Step Forward So Far This Week
1 Step Back and 1 Step Forward So Far This Week
Abstract
Bonds made solid gains overnight, largely following a rally in Europe (chalked up to lower wholesale inflation in Germany, among other things). Domestically, wholesale inflation (via PPI) also got credit for pushing yields to their lowest levels of the day. A big miss in US PPI extended the rally at 830am. MBS is still up 6 ticks (.19, but down roughly 3/8ths of a point.
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