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Art Cashin video: 'It's a fingers crossed day'

Thursday, 5 Sep 2013 | 1:33 PM ET
90 Seconds with Art Cashin: It's a fingers-crossed day
Thursday, 5 Sep 2013 | 11:40 AM ET
CNBC's Mary Thompson and Art Cashin, of UBS, discuss the yield on the 10-year and how its keeping a lid on the markets. The concern is, if it hits 3 percent, it could collapse the housing market.

Art Cashin says traders are keeping their "fingers crossed" as they watch the yield on the 10-year U.S. note.

Cashin, UBS' director of floor operations at the NYSE, told CNBC's Mary Thompson that if the yield hits 3 percent it could hurt the housing market.

"If we get close to it, I would expect to see bids canceled as we did earlier today." If too many bids get canceled, that could cause an "air pocket."

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