Phil Grossfield's Blog

My Schedule…and a Little Extra:   I tried giving advice to my seven year old daughter.  A couple of girls in her class were being mean to her.  I told her to ignore them.  I told her to not let them know it hurt her feelings.  I told her to go have fun and play with others because that’s the best way to show those mean girls that they can’t hurt her.  Do I know what I’m doing?  Am I going to make it worse?  Man, this parenting stuff can be hard sometimes.   |   Joshua Ledet of American Idol is already a superstar as far as I’m concerned.  That doesn’t mean I like every song he sings…but that kid (19!) has an amazing voice and stage presence you’d expect of a music veteran.  Watch this performance.

Mystery Lyric:   If you give me half a chance, I’ll prove this to you — I will be patient, kind, faithful and true, To a woman who loves music…A woman who loves art, Respect’s the spirit world, And thinks with her heart  — Answer.   

My Market Watch:  Although rates are fantastic, we’re at a resistance level that gives me reason to believe we’re presently capped.  What I am saying is I think rates are as good as they’re going to be for a while.  Am I pessimistic…maybe.  But I feel that anybody holding out for better rates right now is nuts…there, I said it.  Let me explain…traders on Wall Street certainly buy and sell based on economic reports, geopolitical news, news from across seas, etc….but they also look for trends or patterns…this helps them make a decision of whether to buy or sell bonds.   Put another way, traders look for “floors” and “ceilings” to identify trends which help them make decisions.  The trend right now is that the 30-Year Fannie bond is at a ceiling of resistance…the bond goes only so high before traders start selling again and try to realize profits, and this is where it is presently.  That is why I am saying there is a more downside right now.  This is hard to explain in writing so I hope I’m making sense…let me know if you want to discuss.   Disclaimer

My Schedule:  Behind the computer all day dealing with month-end….

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