The overnight spike in the 10-year yield did get my attention, and it should get your attention as well- I will watch this closely and keep you all informed.
Also this morning the MMRI jumped to just over 113.
I had said in my Sunday Markets A Look Ahead that I expected the MMRI to fall as we moved into this week. On Monday and Tuesday the MMRI did fall however, I did not anticipate such a big jump in the 10-year yield today which is one of the main drivers of the MMRI to make such a move.
***The MMRI in its current form works, and I will not be making any changes to it on my website. Understand, the MMRI is a RISK INDICATOR, it is not a “crash indicator.”
***I would STRONGLY suggest that you follow the MMRI at least once daily, especially with the current spike in the 10-year yield.
CLICK ON THE FOLLOWING LINK TO TRACK THE MMRI IN REAL TIME.
Thanks Greg, and the 10 year yield continues even higher along with WTI crude oil!!! 10 year yield at 1.917% and WTI at $92.82, and the DXY up .25% to 95.58. This is all to be expected to rise with interest rate increases, but just as long as they don't move too high too quick!!! I would expect the 10 year yield to soon reach 2.25% to 2.50% in a higher base interest rate environment.
Thanks for keeping us ahead of these wild markets, and I'm absolutely SMOKING IT buying the dips!!! Ripping & Shredding!!!
Greg, will we be seeing the MMMRI anytime soon?