Bond Watch: Rocking All Over the World (BONDX) : The market ran out near the session highs after spending the majority of the rocky week getting beat down. The day saw a run better on squaring, some safety buying as well as easing commodity prices. The Fed's big ease on rates Tues ended up bouncing the majority of yields much higher as the unexpected size helped bump up inflation worries (along with a bumbling buck, soaring energy & commodity prices). The 10-yrs were working their way toward a 4.6% yield & with a little help should have no trouble getting there early next week (no-data Mon). The curve sloped flatter into the end-of-day, but remains near the steepest levels with the 2-10-yr yield spread going out at 57. The buck did its best impersonation of Dead Man Walking this week with the last pillar of support, a hawkish Fed, yanked from beneath its feet. While the greenback wobbled lower in response its depreciation has been orderly, at least. But that's of little comfort to stalwarts witnessing the execution. Spot gold consolidated its enormous gains at 732.50 (-0.76) while crude oil went out at 81.41 (-0.37). Next week brings more housing stuff, consumer confidence, PCE & others. The euro is at 1.4086 & the yen is at 115.4000 while the 10-yr is +17/32nds yielding 4.630%. For more bond & economic commentary click here.
Market Data 
Markets 
AI
