We deem this action representative of a market that has lost the flurry of last week's panic buying and instead is rethinking its view as to the near-term motivation of the Fed and the impact of Katrina.
More Quotes from David Ader:
This is big news. People sort-of thought it was inevitable, but it's still come sooner than many expected.David Ader
We're anxious fence-sitters. Yields are back to where we like them -- and we'll like them more if we see more buyers and improved price action.
David Ader
Without the benefit of data or issuance, the impetus to extend those gains is limited.
David Ader
These are ugly numbers for bonds. I have been calling for 10-year yields to move back above 4.6 percent.
David Ader
Corporate issuance will continue to be a major factor (in the Treasury market) in the weeks ahead with estimates ranging from 40 billion to 60 billion over the next month.
David Ader
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