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BLOW FLY

Bond Market Dislocation.....

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You saw that right - the 30/fixed is now being quoted at 6.5%, up nearly 30% in one day. :(

I'm sure this will "settle down" a bit, but that sort of dislocation is what happens when you transfer the risk of insolvency to the Federal Balance Sheet and start playing games at The Federal Reserve.

By the way, this makes the payment for a $200,000 note at 5% worth only $170,000 at 6.5%.

Bluntly: Bernanke's screwing around just cost you 15% of the value of your house IN ONE DAY.

Whoop whoop? Yields are a rising, and prices are a falling.

Edited by Panda

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