Looking for a little relief – any relief – albeit probably temporary.
The 10 year treasury which hit 4.31% earlier this morning appears to be backing off a bit–now trading around unchanged at 4.23%. You would think after the run-up we have had in the last 10 days a little ‘backing and filling’ might be in order.
Regardless of market movements today I won’t be nibbling. I see some tasty buys out there (don’t we all)–but maybe we will see better (lower) pricing next week. On the other hand no one will ‘ring a bell’ when values bottom, stabilize and start moving higher. A bottom will only be known when we look in the rear view mirror and say ‘damn I should have bought more there’—of course with my minor cash position I couldn’t do dramatic purchasing.