Rates are up.The 10 yr is following the German Bund in lockstep as the Greece situation deteriorates. All fixed income products are way down. I hope Janet Yellen is happy. This all started when she gave in to the hawks and started yapping about "normalizing" rates. Now you've got even Carl Icahn trying to manipulate the hi yield markets by coming on CNBC and saying the junk bond market is in a bubble.
Question is have rates got higher to go? What if the 10 yr hits 3%? Should the FED start uo Qe again?
Is he short hi yield? Yet,CNBC allows him to use their network to try and manipulate the market for his own benefit. I thought this was illegal.
Gee Ace....sounds like you've been losing on your short lately. If you do short some more you better have your finger on the button to cover as soon as Greece is settled. We're going to the moon when it happens.
I'm out at 11.03. Had about 5000 shares for six years in my bond portfolio and it was very good to me.
It's like seeing a trusted friend slowly die from cancer and just waste away.
I mean,almost 5 million shares traded today. Who's doing the selling? Is it hedge funds? What does Pimco have to say about it?
They are destroying fixed income with all their talk about normalizing rates. Wait until the 10yr is at 5% and mortgages are 7%.
They will crush the housing recovery. We all know what happened in 2008 when housing went down.
What will Yellen say when we are in another recession? Oh,maybe we ought to lower rates again?
How stupid has she been giving in to the hawks?
The volume was twice as much as it usually is. Right around 11am it appears somebody let go of a lot of shares. Probab;y some hedge fund needing to finance redemptions.
The same thing happened to NCZ,another Allianze fund. But yesterday it went up over 2% after the shorts got through with all their games.
Seems as though every time the FED wants to raise rates something happens in the world to prevent it.....Ukraine gets invade,ebola and now the Greek crisis.
It's all good!
The safety trade is on again. Forget about the FED raising rates in this crazy environment.
The 10 yr note is completely market driven. It's rise lately has been due to several factors the FED doesn't control. So,where are you coming from?
Because Ben was a man and Yellen is a woman who the hawks think they can push around. These rate hikes will just have to be reversed when the economy slows and housing implodes from "high"mortgage rates. More calls from Congress to audit the FED when Yellen ruins the economy.