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[Rogerdodger]

If you look at this chart from a static perspective, it looks weird.
The market has gone up while the curve dropped below inverted.
When compared to 2000, Something is different.
What were rates in 2000? 10 year was much higher.
What was 2000? Top of the dot com bubble.
It looks to me that the market (SPX) needs to come back into sync with rates...or vica versa.
http://stockcharts.com/c-sc/sc?s=$UST10Y:$UST3M&p=D&st=2000-01-01&i=p18085533160&a=79770897&r=77.png

http://stockcharts.com/c-sc/sc?s=$TNX&p=D&st=2000-01-01&i=p18085533160&a=112434291&r=4383.png
http://stockcharts.com/c-sc/sc?s=$UST3M&p=D&st=2000-01-01&i=p18085533160&a=112434284&r=4237.png

Edited by Rogerdodger, 20 July 2007 - 08:48 PM.