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strbear

Bonds Take A Fresh Battering

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The already shaky housing market is about to be hit with a massive sledge-hammer which will precipitate the crash:

http://biz.yahoo.com/ap/070612/wall_street.html?.v=74

AP
Stocks Plunge on Surging Bond Yields
Tuesday June 12, 10:26 pm ET
By Madlen Read, AP Business Writer
Stocks Plunge As Investors Grapple With a Seemingly Relentless Rise in Bond Yields
NEW YORK (AP) -- Wall Street plunged Tuesday as investors, driving the Dow Jones industrial average down nearly 130 points, grappled with a seemingly relentless rise in bond yields....../
The stock market saw losses in most sectors Tuesday, but homebuilders saw particular weakness as investors worried that Americans could be dissuaded from buying homes; mortgage rates rise alongside the 10-year yield.
Toll Brothers Inc., Centex Corp., KB Home, Pulte Homes Inc. and Lennar Corp. all fell more than 2 percent, while Hovnanian Enterprises Inc. dropped more than 4 percent.
According to Bankrate.com, the average 30-year fixed-rate mortgage was at 6.33 percent Tuesday, up from 6.07 percent a week ago.

Phase 2 of GC2 kicks in. First comes the slowing then comes the tightening credit as bond yields rise in reaction to the realisation that there is too much risk in bloated asset values.

2nd Q 2007.

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http://business.timesonline.co.uk/tol/busi...icle1913129.ece

Financial markets are poised for another turbulent week with the risk of further aggressive selling of US
and European government bonds,
leading analysts believe.

Great Crash demonstrates its long arm is reaching Europe too! :o

Merv will not be able to remain vigilant for much longer as the world begins to tighten credit and hike the rates.

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