- SIFMA recommended early close for markets (
2pm ET) on Thu and full close on Friday - Friday is NOT a bank holiday
- Bond markets in equivocal territory in terms of momentum
- Data limited, but Durable Goods on Thu and GDP on Fri
This week brings the Good Friday holiday, resulting in a full market closure on Friday and an early close on Thursday, as recommended by SIFMA. That means Friday WILL be a rescission day, but bond markets won't be moving. As such, there is no scheduled commentary for Friday.
There will be
In terms of momentum, bond markets begin the week in
The nearest supportive ceiling in 10yr yields is 1.92 and the rally target (a floor we'd love to break) is 1.84. As always, keep in mind that "breaking" a pivot point is slightly subjective. There needs to be a certain amount of follow-through, either in terms of distance or time. In other words, yields would have to break far enough past a pivot and hold that break for a long enough time to consider it successfully broken.