Rate paralysis creates illusion of stability

Long-term rates have been unchanged for a month and a half, the 10-year T-note between 2.5 and 2.7 percent, mortgages near 4.5 percent. That stability is an illusion. Trading desks now labor in deafening toe-tapping, pencil-drumming, fidgeting and superstitious desk-rearranging …

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