Watching Interest Rates This Morning

Interest rates have ticked up 6-7 basis points this morning and we will be watching the REITs closely to see if the “beating” are over in that sector relative to interest rate sensitivity.  REITs are trading at a 52 week low.

We suspect that the 10 year will settle back a few basis points from the current 2.62% during the course of the day–but who really knows.  We could see the average $25/share preferred and baby bond fall in price by a nickel or a dime.