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Joe, its these mnuchin headlines getting something done in terms of stimulus by the election, he says, is tough. That caused a bit more of a selloff in stocks and it underscores why the nasdaq continues to have a bit under it yes, it does clearly and youre also seeing a little bit of a fallback in yield, scott. The tenyear is pushing back towards 70 basis points, somewhat troubling, i would think the market needs a little bit of some of the Forward Momentum that its been carrying in the last week or so to really cool off a little. I think we were getting a little too vertical in the way we were appreciating so the negative news that youre getting on the stimulus aligns with maybe a much needed little bit of pause in that rate of appreciation im not overly concerned by it. Yeah, rates are falling you see it there 71 basis points is where we are on the tenyear, an issue to deal with, tiffany, or perhaps the message in the fall. Ev ....
Yesterday carl was a discouraging day for a lot of people who have been chasing momentum because last week was maybe one of the best momentum weeks i can recall since 1999, which meant that if you bought it went higher and how much fun is that . Yesterday was the day that you bought it went higher and then you got crushed. So i think that usually takes a couple days of reset where maybe you can after stocks that arent as hot, say, as tesla. So you would focus, say, on Something Like the banks ive been through the banks and i know dave and i talk about this all the time, they are incredibly complex beasts, they are not like, oh, tesla, hot and when i first went over them i thought they looked pretty good but already theyre reversing. This is not an uncommon pattern as people find one line or two line that they dont like and then they sell these stocks. David, its happening once again. You know that these banks could have had litter ....
Good morning welcome to squawk box here melissa lee is hanging out again with us. Becky is off today for some welldeserved vacation well see her next week. As joe said yesterday, one of the first down days weve seen in a while a little better s p up about 13 and nasdaq looking to open about 45 points higher also showing you treasury yields now you can see where those are standing well flip that around to. 628 on the 10year you thinking about refinancing a mortgage anytime soon, guys . Im as low as they go im good if you have an account where you can use assets for credit line or to make an investment or Something Like that, i remember two or three years ago, i locked this ridiculously low rate if they come to me again and offer another one, it will be lower than it was last time. It was like 2 or 1. 5 when you get money that cheap, dont you think you you are in the drivers seat when rates are this low i dont feel bad about borrowi ....