![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj8MeyAJU3w02d4yufvsorxKXDoPPX8kEIbPr9_EuSpHenD9DnA4E1MR2MrRIRtgz-sx9CjXzBTfdVIdcRuSJMtpMnJKv-ogE2szKGHmSN1uKGekWbs-s2X3E62B1gSKO6KVYUXibdSWu0/s400/IOIA+6.10.09.jpg)
In the meantime, IWM 10 day volatility has quietly dropped to pre-Lehman levels.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4gUjEYaRt0PWZFiOma1EzPeFtnQh0reBFykOWhfyQr2xw1pjfRA5QRx-ueUkAnadB056D_vEW9xcfHsdb5JsyF0Yn2BoxjItqu63Ihistou059h7WfcTTj7M6ztjFlEmpl19oQKtu_50/s400/IWM+Vol+10-day.jpg)
Quants apparently had quite a field day, releveraging into any dip, and throwing IWM-based feces at each other.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEidI-OkUB82Cn0VeFlkzAfwkJPRaA2RS_UWiO1TTMbZn58QfGjw4Jbl7dc_NaXZbTaFRR-EKJI9kKEs_zblJN1Z1lkRVwibcFN7y7DUm9zQP-4r60NNUe8OmJpTcsHvf5bMulCSuv_qBA4/s400/hskax+6.10.09.jpg)
As for that delayed mortgage refi: looks like today won't be the day either.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGS_YtzdAe5cssnLbOb33ouFnbc7wrIC0VWKknQ9k0WfzBSGTKb2v8dR0SFsHF7ktrn5S-9qchMcW8YUPVmLnnmw7ATKofRg3NJFLGKY8-vjfVVQ9YtIh6pbNJ_cqglkvT-rSAhvtOS0g/s400/MTG+6.10.09.jpg)
In the meantime after today's excuse for a 10 Yr UST auction, the inflation adjusted 10 Year has stormed back to December 2007 levels.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGYmSqlnSs5Ag8OQG6BvBgz5q6bDyZOC3SY40LEDZnLXw7Twu41BHVhMFtwip3lp2WWCUhBL6A_kxjXP9CaekLzS0KLE9f5uqqYCY-eRq-hS1IGXFYqbAbOciNeg1G9pnE1RUxlFQu5ac/s400/10Y10Y.jpg)
hat tip DistressedVolatility Sphere: Related Content Print this post