We stated after the close Friday, Aug/5 that equities were a buy, that bond yields were at a bottom and that there would be no meltdown Monday morning, Aug/8. Ooops.
For the week the Dow is off 175 and yields are 25 bps lower on the 10 yr Treasury.
Son-in-law Carter was right when he cautioned, "not to try to catch a falling knife."
Robert Craven
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