The Day Ahead: PM Edition 2022-08-03

Crude still on track for a retest of the June low

Bonds

The good news is that ZB proceeded lower today. The bad news is that 141^20 held which is not terribly surprising as it was the first test. Now need to see if a lower high forms in the next few days which would facilitate an attempt to drop under 141^20.

Now to see if a lower high forms

Crude Oil

Crude came through with a close under the July close. T…