Apache is functioning normally

Inconsequentially Weaker After Data; We’ll Be Back on Monday

While Friday will technically be a half day for the bond market much like other things technically betray their true nature.  It’s a courtesy day for market functioning.  That left today as the last day of the week.  Bonds sold off modestly after the morning econ data, but due to the “end-of-week” trading going on, some of that could also be due to position-squaring among longs (i.e. traders who had been betting on lower rates booking profits and getting neutral until the market comes back to life no earlier than next week).   NOTE: there will be no custom alerts or commentary on Friday. The video in today’s recap provides a refresher on setting up custom alerts if you’re working with one of the few lenders that will be actively managing their rate sheets on the half day.