Bond market holding pattern and SpaceX IPO (with Steve Grasso, Jay Woods)

Tom Sosnoff sees bonds in a narrow range with no clear direction, the Fed unable to raise or lower rates. He views the SpaceX IPO as overhyped and overpriced, with poor risk/reward for holding after the initial pop.

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Bond market holding pattern and SpaceX IPO (with Steve Grasso, Jay Woods)

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Bonds haven't moved, trading wrapped around 112. We're wrapped in a very narrow range. Until we break down under 110 or go back up over 113-114, there's not much there.

Asks Tom Sosnoff about ECB rate hike expectations and how FOMO around SpaceX factors into markets.

Steve Grasso
Tom Sosnoff

Bonds haven't moved, trading around 112. We're in a gray area or no man's land. The Fed can neither raise nor lower rates, just a holding pattern in a narrow range.

Until bonds break down under 110 or go back up over 113-114, there's not much to trade or talk about.
Asks Tom Sosnoff for his thoughts on the SpaceX IPO.

Steve Grasso
Tom Sosnoff

SpaceX is overhyped and overpriced. Would not want to own it past the opening. If it opens around 100, maybe buy a dip. If closer to 200 or higher, risk/reward is unattractive.

It will gap open higher, but I don't like the risk/reward at any level after the pop.

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