Skip to comments.Market Reaction? 30 Year Just Hit 3.99% As Stock Selloff Accelerates, Gold At All Time Record
Posted on 08/02/2011 10:16:45 AM PDT by Nachum
To see what the market thinks of the economic prospects for the economy look no farther than the 30 Year which just dropped below 4.00% and is trading at 3.99% right now. The market is effectively pricing in a major economic contraction, with long-end deflation now expected. Which means that Bernanke just got yet another carte blanche to proceed with the only thing he know. And validating it is the equity market which at last check not only did not react favorably to the Senate vote, but has been fading all the news all day, and is now trading at the lows, with the S&P, Nasdaq and Dow all down more than 1% now and plunging. Next up, even as Obama prepares to talk, everyone is once again looking at an imploding Europe which will need its second bailout in a month (and third overall) shortly... or else.
The only chart that matters is, what else, gold:
(Excerpt) Read more at zerohedge.com ...
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If economic chaos for the next 1.5 years will guarantee us to be rid of Obama and turn over control of the Senate....
Bring it on.
One of the comments:
“Buy the rumor, sell the Armageddon”
Might just have to refinance my rental property to take advantage of the mortgage lows.
Odumbo won the tactical debt ceiling battle but he is gonna get stuffed on the strategic end. “More spending, more taxes, more depression and Obama wanted every bit of this.”
I thought the debt ceiling deal was supposed to save us from all this. /s
30 yr under 4??? Unbelievable!
Treasury should Auction as much of this 30 yr as it can.
Mmmmm, I think I'll hold off on that.
“Next up, even as Obama prepares to talk, everyone is once again looking at an imploding Europe which will need its second bailout in a month (and third overall) shortly... or else.”
In the Major Leagues of governmental systems, perennial cellar dwellar, Socialism’s record is now 0-47.
I’m looking right now at 3.875 with USAA with .75 points on - top I could probably work them down an eigth/a quarter.
And yes, Big mistake not to re-finance at these rates.
NO ARMS, though. That’s where most of the troubles manifested themselves.
sorry, 15 year fixed. I’m knocking 7 years of the payment schedule and a few bucks off the P & I to boot.
Our investment property is under water, thanks to Obozo, so we can’t re-fi! Drat!
Good luck to you!
Yeah, Barry Zero and the Ass-clown posse did us all a dis-service. (to put it mildly).
They can all got to hell in a handbag.
I totally agree with you. This has put off our retirement and made it completely unstable. I’ve heard speculation that it may take anywhere from 5 to 7 years just to overcome his lousy 1.5 years in office.
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