5s up 9 ticks from overnight lows as yields north of 4.30 brought out the buyers. No clear sailing just yet though with supply and key inflation prints on deck this week.
Tomorrow's CPI headlines are likely to be discouraging. But my new post argues we should look under the headline at the distribution of inflation. So far, the heat is in the tails — narrow categories, not broad-based. Worth a watchful eye.
stayathomemacro.substack.com/p/inflation-...