13 Nov Rebounding from Friday’s losses
Markets have been fairly uneventful today, as the only item to focus on is the 10 year note auction results. It was just reported with a B+, but bonds have remained in positive territory since the open with no additional push higher after the news. Economic reports for the remainder of the week include tomorrow’s weekly Initial Jobless Claims report, and Friday has the Empire State Index for manufacturing. We will maintain a floating bias as bonds continue to get back some of the big losses seen last Friday.