Loading ...Even though the yield on the 10 yr. is down 1.5 bps.
Used to be that rates mattered to pm’s, but now it appears to be the USD. Bottom line is that whatever is the easiest justification for pm’s to go down – rates, USD, SM doesn’t matter.
To make matters worse we’ve got Powell speaking this week and most of the commodities getting spanked. No way to withstand the pressure