Read my previous blog.
Rates cut 50bps but 10 year treasury rates up 20bps????
If GE and Goldman are paying 10 1/2% for perpetual preferreds with a warrant kicker.....you will be paying a lot more than 10 1/2% in the not too distant future!!!!!!! If you think you are as good a credit risk as the above two companies......you should change your medication or recreational drug of choice.
The current administration is taking every possible step to insure that happens before they leave town in January. My guess is that long rates and mortgage rates will start skyrocketing very very soon.
A half a point rate cut and the market tanks a couple hundred points.....who coulda predicted that???