Been battling it out this morning in a narrow range. Break up or break down?
One needs to believe that with Janet Yellon, leaving the fed very soon, that she is not going to be walking out the door as the bond market is collapsing. So I say, for that reason, that bonds prices go up/yields going down. But the next time they decline, it will be the real decline and you need to be short for a very long ride down.
Another thing to think about is the fact that we have a 2 day fed meeting going on, and there is a good chance that the FED will raise rates tomorrow by a 1/4 point. That could put more pressure on the bond market, but I am still sticking with bonds up, but I am just talking as I do not have any position in bonds.