Oscillating Rates. Credit market yields are showing a slight improvement this morning, just ossilating up and down over the last couple of days. Credit markets are improving, moving opposite to stocks which are falling this morning. Credit markets have been demonstrating strength for the short term, improving on the day as stocks bounce up from their worst levels. In the bigger picture, rates are not trending lower and can move up sharply from these levels if stocks stabilize or improve. Lock Triggers: 10- yr. Note Conservative 3.62%, Aggressive 3.62%.
Market Close
The 10 Yr Note Yield temporarily dipped under yesterdays lows, while the 30 Yr Bond Yield remains well above previous days lows. If Treasuries do not improve further on the day, this would be a sign of rates basing(bottoming out). The Dollar Index is trading lower, which contributes to rate improvement for the day, but holding above Intermediate Term Support.
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