The Danger Of False Optics

The Danger Of False Optics

The bond rally accelerated early Wednesday in the US, which was a story in itself. That is: Irrespective of how market participants chose to trade (or not) the June FOMC minutes, 10-year US yields at ~1.30% was notable. Happily, that assertion inoculates this particular piece from becoming "stale" should the move reverse, but that wasn't the intent (sometimes it is, but not here). This really was news, irrespective of whether yields drifted back higher. Another (rather obvious) bout of positi
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One thought on “The Danger Of False Optics

  1. Direction of interest rates is extremely difficult to predict. As you say, it could be that too many were short and now the momentum for the time being belongs to the longs. The economic concern I have related to rates is the flattening of the yield curve. Especially the bull part of the flattener. The Fed does not have that much influence over long rates- the message they are sending is not optimistic for the economy.

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