It is reassuring when the world behaves as it should. The last couple of weeks have been disconcerting — how such a huge decline in rates without a bounce-back? It’s okay now. Rates are rising. The jump last week had several propellants. The first is simply the nature of markets: any big move begets a counter-move.
- The last couple of weeks have been disconcerting -- how have we seen such a huge decline in rates without a bounce-back?
- Last week, rates had several propellants to jump, most of them from overseas: The U.S. economy is OK; Europe is not.
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