Pay Attention

The Dalai Lama often encourages us to, "Pay attention." What he means is to be aware of the realities that make up ordinary life. The 10 year note is working on its 7th day of nested unchanged value. The 5 year note made a  marginal new high mid-week and has nested back down since. The "big story" over the weekend was the possible new era of low rates, tight spreads and low volatility in the space.

Pay attention. the reality that surrounds us is completely different from that narrative.

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