Today's Commentary
8/21/08
Saw good strangle selling likely from Pimco yesterday. They sold at least 15K of the Dec. 10yr. 112 - 118 strangles yesterday around 1.19 and 1.18 area. Will expect to see more of that. Again real negative interest rates seem to be indicating how dicey things remain in the financial sector. You can expect continued bad news from the financial sector, which will keep interest rates in treasuries low, and mild leadership will emerge from Bernanke on Friday. More later.