Wednesday, May 27, 2009

Treasury Auction: Bad News

Ticker reports:

The Bond Market has had it with the games, and despite a "good" auction today signaled its disgust with the lies, the unending deficits and both bonds and stocks sold off at the same time

The 10-year bond went to 3.67+% rate (up from ~3.5%,) AND the Dow sank by 100 points.

That's the good news, relatively speaking.

Prime 30-year mortgage rates went from 5.08% to 6.52% overnight!!

No wonder Obama is playing with a national sales-tax (VAT) and mewling about being "out of money."

He IS 'out of money.'

3 comments:

Dan said...

But yet Obama said yesterday that the economy is getting better. He's smoking that cocaine again.

J. Strupp said...

30 year mortgage rates did not spike from 5.08% to 6.52% overnight. They just didn't.

Dad29 said...

All I did was follow the link.

BankRate today shows 30 year primes in Milwaukee between 5.125 and 5.925 APR, average around 5.3.