The Red Line below represents the gray line from two blog posts earlier, which is the long term internal trend line at 99-19, which is also the 50% retracement level between highs and lows so far this year.

As you can see, we violated the floor for a time, but the aforementioned long-term chart simply has end-of-day readings.  So this isn't the first time we've gone below this line on an intraday basis.  We're more focused on the end of day price levels, which at this point, are shaping up to hold above the floor, especially with stocks turning negative a few moments ago.

As far as the broader coupon stack, here's how we "stack" up.

FN30________________________________

FN 4.0 -------->>>> -0-09  to  99-23  from 100-00

FN 4.5 -------->>>> -0-07  to 101-16  from 101-24

FN 5.0 -------->>>> -0-07  to 102-19  from 102-26

FN 5.5 -------->>>> -0-05  to 103-12  from 103-17

FN 6.0 -------->>>> -0-04  to 104-13  from 104-17

GN30________________________________ 

GN 4.0 -------->>>> -0-10  to 99-26    from 100-04

GN 4.5 -------->>>> -0-08  to 101-24  from 102-00

GN 5.0 -------->>>> -0-08  to 103-06  from 103-14

GN 5.5 -------->>>> -0-06  to 103-20  from 103-26

GN 6.0 -------->>>> -0-02  to 104-08  from 104-10

Since this post will be at the top of the blog for a moment, make sure you see Berliner's, not-to-be-missed post just below this one.  Always amazing...  Stay tuned for a wrap-up to follow in a few hours.