These things happen from time to time. The bond market finally had an uneventful day... sorta. This may seem like a fairly odd claim for any day where yields hit the highest levels in well over a year but those were intraday highs, and they weren't much higher than yesterday's highs. During domestic hours, 10s were mostly in a 2bp range. Additionally, there were no standout market movers for better or worse. This easily meets the definition of uneventful even if it says nothing about the volatility risks over the next 2 days.
9/2/26 - (unchanged from yesterday) War headlines and oil price volatility present persistent risks for volatility. It makes sense to remain defensive until there's a clear reversal in the bigger-picture trend.
