How long will we be in this financial market standstill?

  • If we don’t know why we have gone flat, it’s a reach to guess at the next move -- up or down -- but it will be one of the two, and the longer we stay flat, the more violent the shakeup will be.

This last week extended the June freeze: The 10-year T-note this week traded between 2.19 percent and 2.14 percent; mortgages are not moving at all, hovering close to 4.00 percent; and the S&P 500 stayed between 2435 and 2447.