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From Daily Reckoning:
The bond market continued its collapse last week. Yields on 10-year treasures were 3.07% on June 13th. Now, they're 4.40%. This is the worst bond massacre in 20 years. It's "a 100-year storm," said Franklin Raines, CEO of Fannie Mae, whose bonds have fallen even more than U.S. Treasuries.
From Contrary Investory:
This Thing Has Turned Into A Runaway Train... the Treasury market experienced a three day rout that ranks among the top five three day "corrections" in bond market history.
I feel like going ahead and locking on my refi now, even with the large jump since last month. And what'll happen is that if I lock, rates will drop. And if I don't lock, rates will climb. Sigh... why do the markets always have to react opposite to what I do?
Posted: 2003-08-04 17:12:09
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