The Day Ahead: AM Edition 2022-03-16

Now we wait for the FOMC this afternoon

Bonds

ZB stayed on plan by leaking lower to test 151^07. I’m provisionally calling this the first impulse down from March 7th in development. The question at hand is if it is nearly done or only in a small degree third wave. Bias is lower while under 152^10 to either retest 151^07 or extend to 150^01.

Bias is lower

Crude Oil

Crude is in about the right plac…