Phil Grossfield's Blog

A LITTLE EXTRA…

I am Hopeful

abeMy Schedule…and A Little Extra:   Lincoln made me feel hopeful.  I forgot to mention that in my post yesterday where I drew an analogy between the 13th and 2nd amendments.  When I got out of the movie I was sad because Lincoln was shot and killed (spoiler alert!) but I felt hopeful because so much was accomplished.  The movie does a terrific job of illustrating just how difficult it was to pass the 13th amendment…after all there was a civil war still in process.  In a nutshell, there was tremendous pressure and desire to end the war and it was believed that trying to force passage of the 13th amendment would stammer the possibility of a cease-fire.  So, when I learned just how challenging it was to get the amendment passed, it gave me a sense of hope.  Yes, we have mental illness that has the capacity to destroy lives.  Yes, we have a violent culture in America that is growing.  Yes, we have gridlock.  But we have a legislative system that works if we can get together for the overall greater good.  I received a large number of comments on my post yesterday with varying opinions on gun laws, mental illness, constitutional rights and the like.  But I received only one opinion about what happened in Connecticut.  I am hopeful.

My Market Watch:  Heads-up this morning…the bond market is fluctuating.  The primary reason is renewed hope over discussions on the Fiscal Cliff which has given stocks a boost.  When stocks do well most traders are selling off bonds.  What that means to you is that rates/pricing might worsen…if you have a price-sensitive transaction and you are thinking about locking, this might be a good time to have a discussion with your borrower about locking in.  Why?  Because when bonds sell off the price worsens which makes lender rates/prices worse.  For now, it appears things have stabilized and maybe Cap Markets has already priced in these concerns.  Late this morning is a 5-year Note auction.  I think traders are pessimistic after an auction yesterday came in with a D rating which is not good.  It might be another reason why bonds were selling off.  My Disclaimer

My Schedule: Available all day until 4p and then done.

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