The basis for a rally in bonds has gotten smaller.
The Treasury market rally may be a bear trap. The rally lacks a strong foundation as well as the extreme pessimism that marks the end of sell-offs.
The Treasury market rally may be a bear trap, ... The rally lacks a strong foundation as well as the extreme pessimism that marks the end of sell-offs.
Fundamentally there is not a good basis for the yen to rally today. But the bottom line is the dollar is more stable than we would have thought Friday.
The recent rally in the stock market might be captured (in the numbers).
It is a microcosm of events generally hitting the market, ... and it reinforces the notion that there are yet-to-be-reported losses at other institutions that would pose systemic risk.