All rally’s now are looked at suspiciously as nothing has really changed for a few days–the UK has rearranged the deck chairs a bit and we had the Empire State manufacturing index come in pretty soft–maybe that is all we need for a relief rally.
My accounts are green–about time. I nibbled more CHS preferreds and have a low ball order in for a little Ready Capital (RC-E) which has not executed, but that is fine as it will come to my price eventually (I think).
The 10 year treasury yield is off just 3 basis points today–but maybe we will see some drifting in yields this week–giving us a little relief for a few days. Will still need rates to move slowly–up or down–we won’t see so much daily/weekly damage if we can just move slowly.