Wednesday, June 17, 2009

Blind Re-Raise To The Fed

Even with the market oscillating lower, then higher, and finally closing unchanged, the trend in bonds has started getting ugly again. The bond vigilantes will need progressively more to be placated: a several % drop in the S&P just ain't gonna cut it no more.

2s10s closed at the day's (and 4 day) wides with a trend to accelerating widening.

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