Bonds Leveling Off But Not Out of The Woods

Bonds began the day with a test of the important technical ceiling at 1.37% in 10yr yields.  With some help from geopolitical risk due to bombings in Kabul, bonds managed to stay fairly calm with the 10yr just a hair better than ‘unchanged’ at the 3pm CME close.  MBS also found their footing and were 2 ticks (0.06) higher at the same time. We’re not out of the woods yet though.  Tomorrow brings Fed Chair…