Halister News

(Bloomberg) -- “FTN’s analysis still senses agnosticism in bond prices about the next oil move -- more wariness it could go higher but not convinced of stability above $42 just yet,” and “smart fixed-income investors will start watching demand data more closely than supply headlines,” strategist Jim Vogel says in note.

• Other observations from strategist morning notes:
• CRT (David Ader): “We’re reluctant to over-emphasize the fundamentals behind the overnight moves as momentum continues to point toward lower yields, and the relatively subdued nature of the move is more consistent with a technically inspired drift than any significant shift in the economic and policy outlooks”
• Marty Mitchell (independent): “Hawkish tone from Yellen today should lead to curve flattening, benefiting the back end of the curve at the expense of the front end,” while a balanced tone, “as we expect,” will be “perceived as less hawkish and should allow for a steepening on the curve as the front end leads yields lower”
• Seaport Global (Tom di Galoma): “Look for buyside accounts to add duration during the 5yr and 7yr auctions as well as on a more robust ADP figure over the next few sessions”