Housing and Rates Having Tough Time Finding Momentum
Stronger Today, Sideways in General
Bonds improved overnight on a combination of friendly central bank news in Japan and softer economic data in Europe. From there, bond traders were relieved that PCE prices weren't any higher than they were considering the warning embedded in yesterday's GDP data. Chicago PMI tried briefly to push toward higher rates, but buyers quickly regained control and didn't give it up again through the close. The gains are nice, but rates remain exceptionally range bound in the bigger picture.
Econ Data / Events
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