(Reuters) - Despite that sharp sell-off, bond yields have been relatively range-bound in recent weeks.
"The torture we feel as yields rest uncomfortably in the middle of months-long ranges is that the coincident and lagging indicators -- ISM manufacturing, employment and inflation and consumption data -- are showing enough strength to keep the bears locked into their positions and the Fed on the offensive," said William O'Donnell, head of U.S. interest rate strategy with UBS in Stamford, Connecticut.
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