The Day Ahead: 2024-04-17
Crude down, bonds bounce
Bonds
I had been expecting a wave [IV] bounce and that kicked into high gear today as ZB lifted up away from 113^19 and is now nearing the lower targets for [IV] at 115^09. The alternate would have the low from yesterday as the (b) wave low completed. I’m not ready to give up on one more low until ZB is above 116^31.
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