Today was an unusual day during with all three major stock indices had small losses at the same time as MBS bonds were sliding downward once again. The MBS bonds have fallen so far in a short period of time that we are now watching the 4.00% coupon. In recent weeks I have spoken about the importance of the 10 year Treasury yield not exceeding the 2.62 level. The yield today was 2.834. This should create a rush of buyers making deals before rates out-price their aspirations. The Dow was off 19 Points on the day.
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