ANOTHER DAY, ANOTHER DROP IN RATES!

The unrelenting drop in long rates continues and it appears we are on our way to the flight to safety lows of 2008 on both the 10 year and the 30 year. The first time was a run to the safety of treasuries but this time it appears to be more of deflationary spiral that is sparking the buying of bonds with both hands. The economy is in shambles and for all the trillions of dollars put out there, the bond market has been telling us for a long time that its not going to work. For mlps the unrelenting fall in rates has kept them floating above the rest of the stock market. Stocks look like they are going to at least re-test the 9800 low and with us going into the seasonal period of weakness, my guess is we're going to break below that, And at some point mlps will probably sell down as well, although not to the extent everything else does.
Not the prettiest looking chart but i guess our only help that 9800 holds on the dow and we form some sort of triple bottom. If only long rates would stop going down!!!

MLPS held up pretty well yesterday losing a little more than a point on the index while the overall market took gas. Stock futures are lower this morning and it looks like we'll be under 10000 at the open. Deflation continues. 2.43 on the 10 year and 3.48 on the 30 year! We have no corporate developements and no upgrades or downgrades.