Post Fed Correction Leveling Off?

Post Fed Correction Leveling Off?

Based on the weakness in the bond market this morning, it looked as if the post-Fed correction that began last week was set to continue into the new week.  And while that indeed may prove to be the case, there's some room for doubt after the close.  Bonds rallied nicely in the late AM and early PM hours with both Treasuries and MBS making it back to unchanged levels. They've faded a bit after that, but not nearly back to the mid-day lows.  Comments from Fed's Goolsbee lined up with the reversal, but the volume behind the move suggests that may not have been the primary motivation.  In any event, the milder weakness builds a case for the post-Fed correction potentially leveling off.  Tuesday will be more telling in that regard.