Long Bonds Bounce

James BarrettGeneral Commentary

 

The Bond market rose about 1/2 a point in quiet low volume holiday fashion as a number of other beaten up  commodity markets were able to lift also. Europeans had the day off and we will see tomorrow if today’s activity has any traction. The energy complex led the charge with crude up 1.35 % to the highest level since 2015 and in addition gold and soybeans both tacked on close to one percentage point net change . Each had their own story fundamentally of course but the degree to which they had all gotten oversold this month gave the rallies some fuel. There is some concern about dryness in parts of Argentina behind the beans and gold just looked cheap after what may prove to be a bear trap when it briefly fell below 1240 early in Dec. .