Friday, June 13, 2008
I true Friday the 13th form, what can go wrong will. Although numbers came in as expected today, and the bond started off on a positive, it turned negative within the last hour. Bonds had been up as much as 40 Bp they have turned downward and as the normal lately, we are seeing re-pricing for the worse. In housing news, foreclosures once again made record territory with a 48% increase over the same time last year, and a 7% increase from last month. It looks as like most investors are taking today's profits and running while they can. Maybe they need the money to buy gas for the way home.
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