The narrowing of spreads on Treasury notes remains a matter of concern, as we also look at Coupa Software.
Treasury bears have been bold and vocal, but sentiment should change to catch up with stocks and commodities.
There is a great trading lesson in Wednesday's market move.
This month has been lousy, but there are factors that could still produce a year-end rally.
The president's attempts to intimidate Jerome Powell probably won't impact Fed policy, with one possible exception.
Data has been decent, but is showing signs of softness as the demand collapse in the rest of the world feeds into U.S. data.
To a great extent what is happening is just the normal ebb and flow of the market as interest rates rise.
The speed with which this move in the bond market is occurring is whipping around the much-smaller stock market.
The market is anticipating higher rates and some inflation and that likely will matter at some point, but not yet.
The 2-year Treasury yield, TIPS and gold all indicate the Fed shouldn't be forced to put a clamp on inflation.