5.5's are still trading in a range that's hovering around 99-19.

Lenders that did not reprice for the worse earlier today, will likely be doing so soon, or by the end of the day.

No one has any money to lend, and those that have money to invest are not interested in lending or investing.

Something will have to "give" for things to change in the short term. There are rumors of another bailout.