The bond market saw yet another week with rates in a holding pattern at historic lows.  With coronavirus being the primary motivation for rates, it wouldn’t be a surprise to see indecision continue until we get a clearer idea of how things will shake out with respect to the pandemic vs the global economy.  

In fact, apart from the all-time low mortgage rates, things have been downright boring when it comes to the underlying bond market driving those rates.  Absent a vaccine-related breakthrough, there’s not much for the bond market to do besides hurry up and wait.  After all, even if there is amazing news about a vaccine trial, that’s only worth a smaller-scale, shorter-term bump for markets until the stuff actually makes it into widespread circulation and proves its worth.

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