One of the most common responses to the feedback was for more graphs. So ask and ye shall receive!
Below is the graph of the 2 day Intraday Price Curve on the 6.0 Coupon. You can see all the "hedging" that took place yesterday morning leading up to the announcement.
Then you can see the sell off right after the meeting that caused some "others" to recommend locking. To me, it wasn't enough evidence for a reprice considering it held steady for 10 minutes without dropping further combined with the fact that on most of the rate sheets we had seen in the morning had already "baked in" a .125 hedge. So there was a cushion.
Simply based on the data and the verbiage of the statement, locking, although the wrong recommendation, was not was not a bad one. Still, I'm glad we decided to float because look where we are now!
Still, there is one way to look at this as bad news. With stocks down as much as they are, Bonds are having a very hard time getting off the ground, and are certainly not gaining proportionally to stock losses. So the money is going elsewhere. It sets the stage for a possible scenario where we could see stocks rally and bonds fall. Stay tuned for potential lock alerts if Stocks rally today, but so far, we've been able to hold right around the 100-12 level on the 6.0.