Treasuries move from overbought to oversold

Treasury market reprices post-NFP, overshooting the Fed in the process

Highlights

• Treasury market reprices post-NFP, overshooting the Fed in the process

• Seasonal factors and non-cyclical developments take the glow off the employment report

• Bullish on Hong Kong (safe way to play China without geopolitical and trade risks)

• Corporate insiders sit on the sidelines despite current stock rally