Sideways Vibes Won’t Give Up Just Yet

Bonds made a move yesterday with yields breaking below the lower boundary of the prevailing consolidation range.  This type of breakout is a positive sign, generally, but it requires confirmation from the following day of trading (i.e. today).  Earlier today, it looked like confirmation was in the cards, but things went south heading into the close of the European session.  Yields jumped modestly higher, breaking above …