Slightly Stronger, Sideways, and Still Waiting

Slightly Stronger, Sideways, and Still Waiting

Monday's trading session offered little by way of anything significant or interesting for the bond market. Yields fell in Europe and pushed back steadily higher in the first few hours of domestic trading.  AM data was stronger but not noticeably in sync with the selling pressure.  Even then, the selling was weak enough to disregard, not to mention the fact that bonds rallied back in the PM hours to hit the 3pm CME close in modestly stronger territory.  We could be waiting all the way until next week's Fed announcement for the next big source of inspiration, but tomorrow and Thursday's econ data could also move the needle.