By Jessica Shanahan, Premier Lending LLC adapted from the Shirmeyer Rate Market Report.
For each of the past 6 sessions, the closing yield on 10yr Treasuries (our proxy for "bond markets") has been no higher than the previous session. We can't say each day has improved because Monday and Tuesday closed at exactly the same levels.
What's with all the positivity?
First of all, it's not really that overwhelming considering yields were lower two weeks ago and lower again two weeks before that. Indeed the longer term range has been sideways to slightly higher (but mostly sideways), and the past 6 days have simply represented a move from the weaker end of that range to the stronger end.
There are several potential motivations for this apart from a…