Monday, September 29, 2008
Rate Watch 9/29/08: Carefully Floating
Today, with all eyes on the House of Representatives and their vote on the Economic Rescue Package, the Bond Market traded in a WILD range of 128 bps! Stocks had their worst one day drop in 20 years and Bonds and Treasuries both received a boost from the carnage! Because the day started with a Carefully Floating recommendation, and the market was so wild today, I am posting to my Blog at the end of the day to report that the market it slightly better than where it started this morning. The Senate will have a shot at the Rescue Package on Wednesday. Until then, we can only stand by and watch this roller coaster of economic movement. I will be watching closely for any change in direction.