Who Didn't See 5% Coming?
Our earlier commentary, Some recent trades, was picked up by Dow Jones Market Talk:
Who Didn't See 5% Coming?
1:06 (Dow Jones) Equities investors didn't suddenly glance up and just this morning see Treasury yields nearing 5%, but it kind of seems that way. "It's funny how stocks ignored yields all this time," Barry Ritholtz writes at The Big Picture. "Suddenly, stocks are finally reacting to the shift." The 30-year has crossed the 5% mark and the 10-year is right behind it. "5% yield drives the Fed, attracts cash to CDs and fixed income products, and makes corporate borrowing more expensive, hurting earnings. A 5% yield is not a stock friendly number." DJIA down 84.
Good stuff . . .
Friday, April 07, 2006 | 02:19 PM | Permalink
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Saw higher yields coming back in September 25, 2005
Set an upside target of 5% for the T-Note on March 7, 2006
Posted by: PC | Apr 12, 2006 12:28:41 AM
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