[turbo6bar]

So much for commercial traders being short the 10 yr treasury bond. Today's manufacturing numbers put the scare in the market, and traders fled to bonds. The 10 yr treasury bond yield was down 91 basis points. In mortgage terms, this would bring a drop of nearly 0.1% in the 30 yr fixed rate mortgage. This is good for buyers, but the slowing economy and potential for recession has grown. Six steps forward, six steps back.