13 Sep Tempting to float, but recommending locking bias
Markets started the day with a weaker than expected Retail Sales report, and lower Consumer Sentiment as well. But stocks are still on the rise as the real driving force will be next week’s FOMC meeting. All the speculation of tapering has kept bonds in their tight trading range all week , yet they are positive for now given the disappointing reports. It‘s tempting to float, but the price gains have continued to be capped by overhead resistance, so we will suggest locking in the gains.