Tuesday, August 9, 2011

Bond Market the New Silver? 10-Year Retraces Almost Entire Intraday Drop

We hope you locked in your mortgage in the past hour.
Almost exactly an hour ago we advised that the 10-year was plunging to new lows hitting 2.03%, a massive drop from the open at 2.29%.
Well, fast forward 60 minutes, and the 10-year has re-traced almost the entire swing, with rates surging to 2.274%!
Congrats Mr. Chairman on issuing an FOMC statement that is so uncertain that the 10-year is now trading with the volatility of Blythe's arch-nemesis itself.

VALUE: 2.274

US Generic Govt 10 Year Yield (USGG10YR:IND)

Summary One-Year Chart INTERACTIVE CHART
Value 2.274 One-Year Chart for US Generic Govt 10 Year Yield (USGG10YR:IND)
Change -0.044 (-1.906%)
Open 2.29
High 2.44
Low 2.03