The fact that the Treasury market did not react more positively to Secretary Bessent’s announcement this week…especially given how very “short” and very “thin” this market has become right now…is something that has got to be weighing heavily on the minds of people at the Treasury Department…AND on Wall Street…this week.
Even though the S&P 500 has only seen a mild decline from its all-time highs, it’s already testing a key technical level. With this morning’s strength in the futures, this might not be an issue today. However, it’s something we’ll be watching closely as we move through the rest of August and into September.
