Back In Action....

Apologies to all my loyal readers, and fanatic fans out there that missed me last week. I was called away on some personal matters that required my full attention. In my absence I am pleased to report that the market behaved and remained constant, with no true gains or losses that would influence rates and pricing dramatically. We'll start with a five day graph (below)


We see a couple of things here. First, it's clear the market is trading in a pretty consistent range, with the price point of 104.00 at the heart of the matter. All the bounces at the top end signify resistance. The sharp sell off and fast recovery in the middle (Friday afternoon/Monday morning) suggests true support. For these reasons it appears as thought rates are currently in equilibrium and will be holding. In fact I expect this range to trade for a little while, as investors and markets (in general) are reassessed.

Currently we are up one tick on the day... not bad, but as you can see we are off our highs. Volatility is picking up, clearly, but considering we are over the 104.00 price point and the 10 year yield is over 3.000% yield. Clearly long term markets are the investor trend and for this reason it seems as though rates are safe, at least for the time being.

It is a traders world, is the motto a friend of mine has coined and it is in a truism that cannot be argued.

Keep an eye on things and stay tuned. I'll be back tomorrow and the following with updated information.