Slow down–speed kills!!
I am seeing another giant jump in the 10 year treasury today–up 17 basis points to 3.87%. I think something is broken–or the Fed is running off a bunch of the balance sheet saturating the market with supply.
Fortunately the markets are orderly–some selling in bonds and preferred stocks but it doesn’t appear massive–yet. My accounts are up $33 and for the moment I am thankful.
Today is mainly for watching–although I nibbled a few shares of the Apollo Global Management (AAM-A) 6.375% at $23.33 with a current yield of 6.82%. Solid investment grade. That’s it for today.
No doubt every day this week will be interesting–maybe best for watching and not buying.