Just as an update to my last post, the continuous long bond futures contract is now down more than a point and a half in price. That's a move of 1.4%, the worst one-day shellacking since March 22, 2005 (-1.49%). 10-year T-note yields are up 12 basis points to 4.67%. Oil
at $83.25, up about $1.40 (though the dollar is off its lows, with DXY
recently down 0.82%).
FINAL UPDATE: Long bonds closed down a stunning 1 24/32 on the heels of a 1 point decline yesterday. Today's 1.57% rout was the worst going all the way back to September 22, 2003