Zeev's Turnips Patch-No Politics (ZEEV)

[ajtj99]

George, I thin bonds will bottom on Monday and reverse if they have not already done so. The TNX hit a falling support line on the weekly today that is the bottom of a channel. The weekly indicators show there could be some additional downside, but it appears to be pretty minimal compared to the melt we saw this week. I think the lowest we could see near term is maybe TNX at 33.00 or so, which is about 1.37 below today's intra-day lows.

Anyone with a mortgage ought to be on the line with their provider Monday if they're looking to get a 15-year at 4.35% or a 30-year at 4.95%. I think those rates are do-able Monday based upon today's close on the TNX and the current market rates.