Brad Summers

📉📈 No Whammies Rally for Bonds!

After a puzzling sell-off yesterday, bonds are bouncing back today thanks to weaker-than-expected retail sales and calming words from Powell. Fears of a “higher for longer” rate policy didn’t materialize, giving the market room to breathe. Yields reversed most of yesterday’s losses—momentum is back (for now). 👀💵

A "No Whammies" Rally For Bonds After Data and Powell This morning's market action is quickly helping us understand the enigmatic trading seen yesterday (i.e. a sell-off without any great scapegoats).  Retail sales' control group was well below expe...