This headline story from Bloomberg News "Treasuries Fall on Speculation ECB Will Cap Region’s Bond Yields" pretty much tells the current story. While it is too early to tell if / when the market will ignore / call BS to the story, the only thing MP is concerned with is market data. And we just don't have enough of it yet.
The news over the weekend of the ECB considering intervention in the bond markets in an unlimited capacity has wiped the slate clean from Friday's bell curve..this was to be expected at the London open.
However, we don't yet know what state the market is currently in. The most likely state is tethered to a new mode, but the model will need more time to decipher what that mode is. So, for now, we just sit back and enjoy the show.
govttrader out...
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