Well it looks like the Spring bounce is running out of steam and pretty much at the levels I previously suggested. Personally I’d attribute it to stocks unwillingness to tank. Once they bounced, bonds seemed doomed in terms of breaking 2.3. I wouldn’t start cliff diving here, but it’s a sign the range is still firmly intact and I don’t see how we could challenge a break lower until NFP or GDP, so there’s some real risk in floating now. I wouldn’t chase losers here. You should have locked already and if you haven’t I’d say take your lumps. I’d be surprised if we bounce tomorrow without some data help. I like locking here, but worst case I’d hold for a bounce tomorrow and if we don’t get it, cut your losses.
Bulls and bears…
#justmissed #shouldacouldawoulda #stillbetterthan2weeksago
