Wednesday, October 25, 2017

Ten year at 2.46 this morn?

That is a very high yield and may not hold through the day. 

But from the Treasury point of view, it makes sense. If they keep rolling over short term debt they end up compounding beyond the ten year rate, so Treasury is piling on the ten year to clear short term debt.

Mortgage rates will jump and Congress is likely to stall.

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