A lot of today's trade is based off the stock market.
More Quotes from Jeff Palma:
There's a lot of focus in the bond market on oil. It's been such a hot story because of people's fears of higher inflation.Jeff Palma
The market has sold off so much recently that a little consolidation in light of the coupon pass isn't necessarily surprising.
Jeff Palma
The Fed is remaining vigilant against inflation, which helps 10-year notes and 30-year bonds. But two-year notes still have to deal with the likelihood of higher interest rates this year.
Jeff Palma
The headline number came in a lot weaker than expected, but when you comb through all the revisions, you come down in line with expectations. The momentum in February is clearly weaker.
Jeff Palma
A little sell-off today should not be surprising in front of such an important report.
Jeff Palma
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