Canada recently signed a lumber agreement to stop Tariffs from being charged on our softwood to the States. This president talks free trade but when it comes down to it, the lobby and congress either tie his hands or push him the other way... It took over 4 years and billions to get a deal. And it's still not very "free"... now instead of tariffs there are quotas...
What I am specifically waiting for to be confident that bonds can rally is the appropriate bias. A bullish bias is present when markets are quick at brushing off whatever piece of information was first considered to be bearish -- obviously not the case today. Since it takes some time for a new bias to build up, I didn't think that this week would be the right time to switch position.
Dealers and decent local pushing from what I am seeing, this is on light volume though at about 600,000 only in the 10yr.
Wow. Just keeps going, doesn't it? I think we are starting to get out of the realm of "orderly". I doubt the g7 meeting wanted this. Suspect that there will be intervention soon. Will make for a nice place to add to my short.