Back to The Stronger End of The Range

This is the problem with narrow trading ranges. Yesterday, yields were safely inside a narrow range near long-term lows. Today, they’re challenging the lowest levels since November. Any time we’re at the best levels in months, it’s normal to want to know why, but because of the narrow range, there isn’t really a new „why“ for today’s share of the move. After all, 10yr yields are down less than 3bps, which is a below …