Sleepy Pre-Fed Day, But Slightly Stronger

Sleepy Pre-Fed Day, But Slightly Stronger Bonds did something they haven’t done in almost 3 weeks today. They closed at stronger levels for the second consecutive day. The last time that happened was February 27th at the end of the impressive month-long rally. While today was stronger, it wasn’t exactly impressive (or event that interesting). The most notable development was the fact that bonds rallied despite s…