tuesday night, page-26

I did note that the USD trade weighted index was at a triple bottom going back to the '70's so it is major major.

Maybe he is wrong and it holds again but a break would be ultra significant.

If it does break, we are talking long term moves and it might hover for months before it busts.

Our 10 year bonds are periously close to the 94 level and a break below would be extremely significant to me, suggesting a probable 200 pt basis move.

Once upon a time that would not be too meaningful, but with high priced mortgages today, it will be sour to many.