Whoa Nelly…volatility is BACK!
Ah…just when many people thought that all was well and that the few dribs and drabs of good economic news we were receiving were the harbingers of better times on the horizon…we get a reality check.
Equity markets are extending their losses this afternoon and US Treasuries continue to rally as the global flight to safety continues. The Dow is off 800 points at the moment to trade at 9,982 and the 10-year Treasury is up over two points to trade at 3.26%. The 10-year Treasury is trading at its May 2009 lows.
The 30 year bond is up over 3.5 points to trade at a 4.17%. The last 15 minutes of trading have taken on a very spooky feel…it’s eerily familiar to some of the activity we saw during the big crisis. These times were characterized by markets falling so fast that by the time you call someone to tell them about it it’s all worse. Everything is worse before I can get don’t typing.
This write up was going to be a much longer piece but this market is too fast…I wanted to get the word out to everyone as fast as I could.
If any questions call.
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