Midday Update: 2024-04-22

Probing the range on a slow news day

Bonds

I like that ZB turned down from the 116^02 area on Thursday but I think that getting a new swing low may not be easy and may have to wait until later in the week when there is more data and of course, the FOMC meeting is next week. Net, I would like ZB to find a way lower, but I think the beach ball is getting more difficult to hold under the water.