“Mortgage rates have soared. The days of the 3.5% 30-year mortgage are over. The bond market has been rigged by the FED. Everyone knows this. A handful of economists decide what rates should be. Investors went along with this. But Bernanke’s remarks persuaded them that the rigging will be reduced. So, they started selling their fixed-rate securities. This is what happens when the decisions of a handful of salaried economists to inflate the currency are substituted for the decisions of investors. The economists giveth, and then their #1 spokesman threatens to taketh away. Investors then scramble for the exits.”
http://teapartyeconomist.com/2013/07/01/80-billion-bond-funds-sell-off-in-june/
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