Watching the equity markets all day is painful. Each time the indexes move higher a tiny bit sellers come in–lots of folks looking for exits in particular in the tech stock.
The 10 year treasury moved sharply higher hitting 1.87%–up 10 basis points from last week. We will see a bit of pain in the income issues with this increase–hopefully not too much, but anytime we get sharp, quick moves of 10-20 basis points there is a possibility of a stampede out of income issues.
I will take no action on these days–in fact I have done almost nothing but collect dividends and interest for a couple months–I have some dry powder if an opportunity presents itself.