Bond futures broke down after the close.
Now, remember why did dow tank a few 100 points the other day. Higher yields = no more mortgages, home cash out refis and LBO's.
Blackstone IPO is just noise. Why does Blackstone's CEO, who was always opposed to being a public company, suddenly wants to go public ? So he and other shareholders could cash out before the tide turns ? Just a logical guess. And the tide looks to be turning. Watch the yields.
Edited by ogm, 21 June 2007 - 05:07 PM.