As we noted yesterday given Powell’s remarks on the “New” Fed policy moving forward should lead the US Treasury Curve to steepen, well take a look today as the 5Y sector is leading the way -4.6 basis points while the 30Y is -1.6 basis points. This is the correct market response and we are glad to see it functioning as intended. Anyway here is a quick tradingview.com snapshot as noted we have rolled from Sept. futures to December contracts:
Equity is a mixed bag, mostly unchanged as the Nasdaq is up slightly, as we noted the indexes are pushing the upper limits of their 5 month long trend channels, not the Nikkei, Yen have anything to do with that???
