Phil Grossfield's Blog

A LITTLE EXTRA…

Escape & Tectonic Plates

lajollashorestectonicplatesI highly recommend you do this with your spouse, particularly if you have young ones…as you know I took the day off Friday to spend with my wife. We hired a babysitter to watch the kids all weekend, got a hotel, and relaxed…it was an escape and a needed one for everyone in the family dynamic. I think it’s healthy to miss your kids after a couple of days, and vice-versa. On Friday afternoon my wife and I went kayaking in La Jolla Shores…it exceeded my expectations. We got up close and personal with sea lions and went into a cave…it was blanking awesome. One thing I really thought was cool was looking into shore and seeing the landscape…did you know the shores are deteriorating at a rate of 8-11 inches per year? That’s pretty fast don’t you think?! This is why shoreline homeowners cannot get insurance on their $10m homes. Also, if you look at the picture I included above you’ll notice the lines in the rock-face are slanted downward. This formation is due to the tectonic plates colliding with each other directly below the shores…one plate is being forced downward under the other and this is clearly illustrated by the lines in the rock face. Since I didn’t bring a camera on the kayak, I found this picture on the web to illustrate what I saw…you can click the picture for a closer look…pretty cool, eh?

My Market Watch:  Pricing is better than Friday by 0.125 or so depending on the coupon. Since rates were published trading has been flat, only down -3bps which is nothing really. The bond market was stoked on inflation news this morning…the reporting indicates that inflation is under control. Since bonds hate inflation this was good news.  The end of this week has some big reports coming out…more on that later….

My Schedule:  I’m available all day. Please note, I rarely answer my phone before 10:30a as I use this time to catch up on the previous day’s business and prepare the remainder of the day….


fergusonsWalk With Me For A Cure for Cystic Fibrosis. Our family is walking again this year to find a cure for CF, a life-limiting illness. We walk for our friends pictured, Ashton (age 11) and Lola (age 7). The average life expectancy of someone with CF is 37…let’s change that! Click here to donate or join me and walk with my family on May 19th…email me for details. Every penny helps find a cure. THANKS!

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