I have no idea, but I think the Fed will use everything in its tool kit to prevent the 10Y rate from going above 3%. That said, it may be beyond their control now.
And they all huffy and indignant when you point it out. Like only they have the right to mock and insult a president.
If the 10y yield goes to 4.76%, PSEC will be the least of your worries. The government can't afford to be issuing 10y notes at that rate. The debt service would swallow the budget. They would either have to raise taxes on everyone, middle-class included, or induce an inflation that would enable the interest to be paid with cheaper and cheaper dollars.
Try again. The float here is 423 million shares. Short interest is about 10.5 million shares. Does that sound like shorts are "in control"? Stocks often go down for reasons that have nothing to do with the dreaded shorts. In this case, interest rates rising.....
REITs are worth 15-20% less than they were in early May, but ARCP is stuck with having to pay peak prices for LSE and the GE Capital restaurant portfolio.They couldn't foresee the future but they sure wish they could have.
Many Americans today believe in Obama - - a much bigger and more dangerous fraud than pro wrestling ever was. And the rest of the world is still laughing at us. Well, actually, much of the world hates us.
Was that Cosmo Kramer? There's a guy on CNBC but his name is Cramer. Is that who you meant?
PSEC may well decline but not nearly as much as the stocks he has recommended....like LINE, IVR, MTGE....
I don't put him on ignore because I like to ridicule him when spews his nonsense.