Thursday, August 21, 2008
Rate Watch 8/21/08: WILD!
After the Bond market Improvement yesterday, profits are being pared away this morning by traders and, depending on when my investors came out with price sheets this morning, we are on the verge of a reprice for the worse. State Unemployment claims were released this morning at the highest level since 1991 (usually a help to bonds, but the numbers are being discounted because of a new Federal Program reflected in the numbers), and Bonds are currently in an 'overbought' position which makes the market ripe for a reversal and worse Bond pricing within the next couple of hours. I will be watching VERY closely and will alert you of an Alert to Lock if it is necessary.