Another reversal lower today after yesterday’s gains, as our technical team noted, “we are on bounce alert lately, but yesterday was not it.” Sigh. Rates held firm(ish), with the 2/10yr closing marginally lower (both down 4bps, the 2yr to 3.96% and 10yr to 4.27%). The day started off optimistically but by 10am, we had given up all the prior day’s gains, with gold edging toward a new ATH. Unlike the past few days, major indices were not able to find positive momentum after the European close a…
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