(USTs modestly cheaper on light volumes)while WE Slept; prices at pump, NFP, CPI and FOMC pre caps & victory laps; the bull steepening (again) ... and more
(USTs modestly cheaper on light volumes)while WE Slept; prices at pump, NFP, CPI and FOMC pre caps & victory laps; the bull steepening (again) ... and more
Good morning. Long bonds are becoming overBOUGHT (so, RICH) on a medium term (weekly) basis and by very same metric (stochastics, INSET) are starting to work off this condition and yields reflexing HIGHER … ahead of NFP and this weeks end … … clearly this is worth watching / noting into NFP and on thru the days / WEEKS end. A ‘good’ number for the markets will be a weak one. A ‘bad’ number then will be strong. It seems to ME (and others) we’ve spent lots of time pricing IN ‘good’ (skating to where one thinks puck is GONNA be) and I was recently reminded of the moves this year relative to those at this time LAST YEAR … remarkable similarities and so one should approach year end (amateur hour for rates and other markets trading) with EXTREME caution.
Pump Prices?!? As a CA resident don't get me started bro :(! In 2007 when Earl hit the still-standing (wtf ?!? Does give some credence to the Dolla Milkshake theory?!) $147, gas was like $4.50 a gal here. Now it's still over $4 in NorCal at current oil prices. But then we pay an extra buck per gal for climate Change 'fees' they dare not call them TAXES LOL!
Pump Prices?!? As a CA resident don't get me started bro :(! In 2007 when Earl hit the still-standing (wtf ?!? Does give some credence to the Dolla Milkshake theory?!) $147, gas was like $4.50 a gal here. Now it's still over $4 in NorCal at current oil prices. But then we pay an extra buck per gal for climate Change 'fees' they dare not call them TAXES LOL!