Correction to the Correction. Will it Last?

Correction to the Correction. Will it Last?

Hindsight is 20/20 and foresight may have been close enough this week given the classic correction to June’s rally giving way to a classic correction of that correction as early as Tuesday afternoon.  It wasn’t really until Wednesday that bond traders really showed their cards, buying early and often–well in advance of the afternoon’s 10yr Treasury auction or Fed Minutes.  In fact, it’s not clear that…