Daily comment

The incredible volatility continues as Bonds have managed a triple digit rally since late last week. However, Bonds are near a key ceiling of resistance and there is still heavy supply coming to the market from Treasuries as well as Mortgage Bonds from recent refinance closings. These obstacles could lead to a reversal.
In other news, Stocks are also attempting to stay above an important level, and if they are able to improve, this will add even more pressure to Bonds. And tomorrow begins the 2-day Fed Meeting with a statement being issued at 2:15pm ET on Wednesday, and this is always a potential market mover.