Quants are back pushing the market up on no volume in tried and true fashion. Credit panicking, as 7 shares of something or another higher means inflation is here to stay. In the meantime, mortgages are on a one way street higher, while 2s10s are enjoying the cattle gun. At the same time, Treasury vol is starting to pick up again: just what the doctor ordered for a quant manipulated market as even PT volume disappears.
So which will it be Bernanke: 401(k) down only50% form their peak or people buying that 7th vacation home again.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiuyS6fSHmiu5IVPyc6nuefP_3h3YIWler8z10kVYtzy__RiHP9D7serSv5vEbm39v_sCIV8mgQW_MayxQhGYlrTPsTrs7XUGELNA8fwnb4ZyRbcSQt1A-wAorI8zQTXl6T2uauwpZEodE/s400/mortgages+6.18.09.jpg)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgFYvfU0Zccdvr5ObfgUKk5A5zw4nDXrnxeI-a3UCWWAtxX3Dhfd-ejfG1GgcQv3Hsf4_v8MzwO-j8imJAo29fCS4GdspMqxkEmzSs9UMy75EN2GV0b5Y7eDMknVkTXvrQLy_JFxPMj_l0/s400/2s10s+6.18.09.jpg)
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