Profit takers are out in stock markets this morning...granting fixed income traders an opportunity to push TSY and rate sheet influential MBS prices higher. The Federal Reserve will be conducting coupon purchases in 1min...although we see a rally in fixed income at the moment....STAY ALERT OF SELLING INTO STRENGTH.
The day trading range we discussed on Monday is moderating but we are still WAITING FOR CONFIRMATION OF SELLING IN STOCKS before getting excited about the rest of the day