9.11.23 Will There Be Crowing or “Dancing in the Moonlight”?
Every trader here is out of sight. They will scalp, and they will bite. They keep things loose, Fed keeps things tight. Everybody was Dancin’ in the Job’s light.
The Bond bulls and bears dance to new news. What unexpected data will lead to crowing under a harvest moon? Will the bulls retest 4.11 in the 10 year yield? If it breaks, can they flip the trend and cha-cha mortgages to 6%? Conversely, if the 10 year Note yield finds momentum above 4.37, mortgages fly above 8%.
It’s such a wild and data sight
Everybody’s dancin’ in the NEWS light
Song: Dancing in the Moonlight (1970)
Famous cover by King Harvest in 1972