No sign of 'weapons of mass inflation'
Commentary: Bankers, get on track or risk 'nationalization'
By Lou Barnes, Friday, January 30, 2009.
Flickr photo by jen_rab.Long-term Treasury yields blew up this week, along with mortgage rates. In two weeks, the 10-year Treasury-note has jumped from 2.25 percent to 2.85 percent, and mortgages from sub-5 percent to 5.5 percent (even that costs a 1 percent fee today), shutting down refinances altogether. Not even the all-time lows had created demand for purchase loans.
There are good odds that this move is temporary; even so, why did it happen?
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