Without any economic data on Friday, dealers concentrated on building concessions ahead of this week’s supply. Yields traded higher during four of the five sessions last week, but thanks to Thursday’s rally in Treasuries, yields were only slightly higher for the week. The yield on the two-year rose 8.8 bps last week to finish at .992% while the ten-year yield was higher by 11.6 bps to yield 3.463% after Friday’s session.
The Fed statement that we will receive on Wednesday is the talk of the market this week as traders wait for how they balance comments on the economic recovery with those justifying the continuation of current monetary policy. As I said in Thursday’s write up, there is no real possibility of a rate change this time around, but the chances improve as we move toward Q2 2010.
Cliff J. Reynolds Jr., Investment Analyst
The Fed statement that we will receive on Wednesday is the talk of the market this week as traders wait for how they balance comments on the economic recovery with those justifying the continuation of current monetary policy. As I said in Thursday’s write up, there is no real possibility of a rate change this time around, but the chances improve as we move toward Q2 2010.
Cliff J. Reynolds Jr., Investment Analyst
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