The Day Ahead: AM Edition 2022-04-01

Can equity markets bounce for at least a few days from this low?

Bonds

ZB started moving lower overnight making look like wave (IV) was complete but bounced hard this morning off the NFP. I think this is just wave (IV) becoming more complex which shouldn’t be a surprise, I should have expected it. I’m penciling in the morning low as B of (IV) and now up in C of (IV). In fact, ZB is just short of the first target for C…