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Bond market's sentiment: Cautious and depressed
There is a sentiment of depression and cautiousness hovering over the fixed income market this week as many traders take to the sidelines, waiting for situations with global equities and commodity markets to play out, strategists say. Bond traders are operating cautiously as the market moves closer toward what many "characterize as an unnecessary [Federal Reserve] interest rate hike at this point," said Ian Lyngen, senior rates strategist at CRT Capital Group. "I think the combination of data and the looming jobs report really has the market sidelined, which is why we're not seeing a great deal of response in ... (full story)