Positioning and Data Deliver Double Whammy For Bonds
Positioning and Data Deliver Double Whammy For Bonds There were no whammies last week as bonds drifted sideways to slightly stronger in a narrow range.  The new week/month began with an unpleasant double whammy, unfortunately, due to positioning and economic data.  Traders began selling in waves right out of the gate.  The first two waves (8am and 8:20am) were best explained by traders closing out last week's 3.5-day weekend protections and other traders opening new positions for the month ...