Well interest rates are popping once again–trading around 4.62% which is just off of the high for the day of around 4.635%. Looking at my accounts the losses are minor — mostly attributed to the more modest dollar holdings of fixed income preferreds and baby bonds. Definitely is a good day to be watching markets and not participating in an active way.
Certainly it is not helpful that west Texas intermediate oil is up $3 bucks at around $93/barrel—this is going to make the trips to the pump kind of painful–just as we were backing off from $4/gallon a few weeks ago.
Just as I am typing this the S&P500 is getting a really good bounce – time for game playing and algo movements–with interest rates popping I don’t think equities are going to move up too much–once the game playing is over.
Going to sit back and see how the next 90 minutes plays out.