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.'


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.