Bonds Looking Increasingly Comfortable With Recent Gains

Much like last Friday, the stock market provided adequate cover for bonds to give back a decent chunk of recent gains. And much like Friday, bonds opted to hold fairly steady. Granted, there was certainly weakness after the 9:30am NYSE open, but not as much as you might expect given that stocks retraced more than half of last Thursday's losses. Part of the explanation could be due to lower oil prices, both in the overnight session and then again following war-related headlines in the 2pm ET hour.