The Week Ahead: 2022-01-23

FOMC week

Bonds

While I think that bonds will move lower over the next several months, they are a bit overdone in the short term and can use a bounce. They started to firm up last week and I would expect that behavior extends into Wednesday this week for the FOMC meeting. Initial resist at 156^02 but wouldn’t be shocking to get a tap of 157^13. At that point, min…