Bonds have added modestly to Tuesday’s big quarter-end sell-off (a phenomenon that has nothing to do with the sorts of fundamental advancements that dictate a large majority of market motion). Thankfully, the random plumbing-related volatility lags us as we begin the brand-new quarter. Old-school prospective volatility awaits. The early morning’s very first order of business will be to see if Warsh states anything intriguing at the SINTRA conference. After that, ISM Manufacturing data at 10am is a B+ market mover if it falls far enough from expectations.
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