Volatility returned Monday and bond yields spiked as market participants adjusted their bets on when the Federal Reserve will start cutting interest rates. Last week's blowout jobs report, as well as upcoming inflation data and scheduled commentary from Fed policymakers, made for a choppy session.
The March jobs report released last week "eclipsed all expectations," notes Deutsche Bank, adding to the evidence that the Federal Open Market Committee (FOMC) need not rush to cut interest rates.
