Any drop in foreign buying in the face of supply could be a bearish signal for the bond market. |
It's not necessarily to speculate on rates at this level. It's more risk management. |
The main driver for yields right now is where will the Fed stop. The economy is still growing at a decent pace, so clearly rates at this level should create some anxiety. |
Tomorrow's the big number. From the minutes we know the Fed will be more data- driven. This is the first important piece of data coming out after the minutes. |