By final Friday, not solely had the bond market seen a 2-week enchancment for the primary time all yr, however the floor coated throughout these 2 weeks was greater than another 2 week interval going again to the beginning of the pandemic. That’s the excellent news. The unhealthy information is that the beneficial properties had been made doable by yields hitting 3.20% on May ninth. The different unhealthy information is that the beneficial properties have been largely depending on heavy losses within the inventory market. As shares bounce again in the present day, so too have bond yields.
Not solely that, however bonds by no means managed to chase shares decrease in the course of the two most up-to-date flights to security (decrease yields and decrease inventory costs).
In the larger image technical panorama, 2.83 continues to be degree to look at as charges have struggled to keep up any break under.