Bond markets worldwide are taking it on the chin keeping risk spreads positive.
Regarding the oversold nature of the 30 yr. yesterday; yesterday I thought it was a bear trap.
Langer likes to say price action rules.
In 1985 and 1998 I’ve seen currencies move in a straight line regardless of how RSI’s look.
Today it’s the long end of the U.S. curve. It can go until the adjustment is over which looks to be at least into tomorrow’s close.
You don’t have to be involved, you just have to acknowledge it.
Spoo’s got a little rich overnight.
It will take a 3887.50 print to do much damage.
There have been articles about the amount of stock to sell going into month end from JPM & GS.
I’m not reading anything into other than we’re seeing typical mid-week shuffle price action in a Bull.