Monday, June 8, 2009

30 Year Mortgage Passes 5%

Investors can not wait to sell mortgages so they can buy the brand new iPhone. Speaking of brand new, BB, if you are reading this, how about some fresh QE: after all what's a few trillion $ between friends. Mom and pop have to be buying this whole recovery story after all.

Here is how what is otherwise a stable bechmark moves over 100 bps in two weeks. So how about it Ben? Time to muck? All that inflationary bluffing when the economy's bleeding matches that of the great Depression. What will it be?

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