Negative Non Farm number inspired a long end rally on Friday. Then Obama and Putin not seeing eye to eye scared the bejeeeezus out of everyone. So we find ourselves not too far away from the bottom of the start of last weeks range. Taking back quite a large chunk of "everythings fixed". Looks like a good place to reinstate a short bias on bonds with one eye on what goes on once Obama gets out of Russia.
TY
Looking at fading into Steepeners, keeping trailing stops tight aware of Syria comments. Also consider Hilsenrath comments after NFP. Sept taper not a done deal.....I'm sure that only puts it off for 4 weeks. (unless NFP is bad again(pattern emerging here))
Bor spreads,
ty vs bund since roll.
€ teds
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