See how Houston zip codes rank among the rest of the country, according to real estate blog Movoto
Wow !! How low can they go?
Interest rates in a free fall this morning, more so than what we have
experienced since the rally began. The 10 yr at 9:00 at 2.04% down 16 bps from
yesterday’s 10 basis point decline, 25 basis points in less than 24 hours and now
down 60 basis points in rate in less than a month.China’s consumer-price gains declined to the lowest in five months.
US economic releases at 8:30
are not helping.
Ebola is increasing in headlines,
but we remain with our take that it isn’t yet a market influence.
Actually markets don’t any more to be concerned with as deflation is edging
more to the forefront and global economies are declining. A correction in US
stock markets? Not sure we can simply call it a correction given the recent
global economic reports all being weaker than thought by most estimates, here
and abroad.
At 9:30 the 10 yr rate was down to
1.98%, down 22 bps from yesterday’s close; at 9:45 at 1.96% This
move today can only be compared to Oct 1987 when the stock market collapsed and
interest rates went into a free fall that lasted three days. It looks like a
possible blow-off move in the rate and stock markets, especially in the rate
sector. It may look like a blow-off move but it can’t be certain until after
the fact.
There isn’t much more to add. This
day will go down as a record in terms of the volatility and the amount of
decline in interest rates.
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