The treasury had a bad sale day for bonds. They thought that investors would come out of the woodwork to buy the 10 year bonds and they did not. Thus, the government had to increase the yield to entice buyers and crushed the stock market as a result. An even worse result, is the higher move in interest rates. Again, squeezing some borrowing power and buying power from potentially new homeowners around the country. Will they come down again?  Yup, said the fox.

 

Not good….said chicken little…not good.

Dale Siegel

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