Wed is the new Tues

10 year notes fell on Employment day and then reversed and rallied on the return from Labor Day. A new high this morning is waning. The "turnaround tuesday" effect could be sliding to Wed with the Holiday. The rest of the developed country government issues remain trapped in the Upside-down. This Stranger Things phenomenon is the major counter-weight to even marginally higher T rates at home. Amazingly, little benefit is being exploited from this international gift to the US.

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