Interest Rate Roundup

Thursday, September 20, 2007

Long Bonds suffer worst day in almost four years

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


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