Another overnight ramp job. Another selloff as we approach the open –  market action which begs the question: when will the bubble burst?

The chorus of naysayers continues to grow.

continued for members…

Yesterday’s effort to retake the SMA10 failed in spectacular fashion.

Currencies are still on a tight leash, with the net effect that DXY is slumping slightly.

And, CL and especially RB continue slumping, putting downward pressure on the 10Y.

Though the 2s10s remains locked down at 55 bps.