Skittish Over Data and Central Bankers

Skittish Over Data and Central Bankers

Skittish Over Data and Central Bankers With no relevant market movers on the US calendar today, it was notable to see just how willing the bond market was to react to overseas data.  Specifically, inflation came in hotter in Spain.  This sent European yields sharply higher overnight and US yields followed at a bit less than half the pace.  While we wouldn't say the pace was extreme, it was nonetheless surprising relative to the motivation.  It's an important reminder about how skittish bonds may be as the week progresses with bigger ticket data and central bank announcements.  Econ Data /