Wednesday, September 17, 2008
Rate Watch: Market Close
I don't normally give a Market Close report, but today deserves a mention of the wild ride we are experiencing! Bonds have made up half of their loss from yesterday, up 58 bps (up 44 bps since we received rate sheets) (we lost 96 yesterday) and the Stock market is looking for a life preserver (off 239). Here is a quote from a Bond Trader who has been in the market since 1969: "I have never seen a market like we are in right now". VERY VOLATILE! With the current movement in the market and the financial news, I continue to recommend Floating.