-The yield on the long bond has been moving up all week, meaning that I have not yet initiated my short position. Still, it is fast approaching the upper band of the trading range that started last summer, so a drop in yields could be coming. Especially if Bernanke and co. don't announce more easing measures next week. Equally telling, though, will be if there is no further measure announced, the market starts to slide, but bond yields don't drop.
-The yen keeps going down.
-The guy who I work with that has boatloads of experience (I think an appropriate nickname might be the "The Guru") estimates that the multifamily space has about 12 to 18 months before the jig is up, due to the perfect storm of new supply coming online, an actual bottom in the housing market and stagnating income levels that will prevent much more in the way of rent hikes. I don't disagree, but I also know that markets can be highly irrational for far longer than you might expect.
