Phil Grossfield's Blog

My Schedule…and A Little Extra:   Keep it in perspective my friends.  My best friend in Minneapolis is a fire fighter.  Yesterday his team was called out to help a child who was in distress.  When he got there he discovered it was a four-month old baby girl.  My friend couldn’t tell me the details…an investigation is pending.  But he told me he did his best, that his team did their best…but the baby girl didn’t make it…she died right there in his arms.  I’m tearing-up just typing about it.  Keep it in perspective my friends.  Yesterday my father was in a car accident…he unknowingly scraped up another car in a lot and then left the scene…there were several witnesses and cell phone cameras were present.  The police showed up at their door this morning and is requiring my Dad to go through a mandatory driving evaluation.  I spoke to my Mom and Dad this morning about it…they’re concerned his license will be revoked.  “Dad, are you okay?  Was anyone hurt?”  Did you hold a dying baby girl in your arms?  Keep it in perspective my friends.

My Mystery Magic:  Cool Card Trick

My Market Watch:  The Jobs Report came in weaker than expected.  They were expecting 100,000 new jobs in June and yesterday traders were buying and selling stocks and bonds based on that number.  But today the actual report showed only 80,000 jobs and as a result, traders are making moves and rates are better as a result.  Why?  Because traders feel the economy is weak after hearing the report.  Think about it…if there are less jobs than expected, then it’s fair to assume the economy is weaker than expected, right?  So, traders sold off stocks and bought bonds.  When they buy bonds, rates improve.  Does that make sense?  Moreover, there is a lot of upside to this report because the bond is now selling above a ceiling…that means it broke through that ceiling and there is potential for another climb.  I would be more excited about this but I just can’t imagine rates getting much better.  Anyway, let me know if you want to discuss it…I’d love to hear your perspective….  Disclaimer

My Schedule:  Behind the computer all day….