After the moves we had last week it is only natural for equities to pause and for interest rates to move back higher–the 10 year treasury is back up to 4.65% – up 9 basis points.
At the same time portfolios are moving a little lower as well – not much, just a little damage done. Some of the bankers are moving pretty good to the upside-in fact the US Bancorp (USB) issues are all 2-3% higher on good volume.
Looks like a good day to just watch–let the market try to figure out which was interest rates are going to move. Without too much news this week maybe we will drift–maybe.
I see CD rates are hanging in there–5.70% 1 year/callable still available from JPM on eTrade. Not going to buy any CDs for now – I have a little dry powder and after the current rate gyrations I might add to a current position (don’t know what that would be).