Phil Grossfield's Blog

A LITTLE EXTRA…

Miami Heat Will Win The NBA Championship

james_wadeMiami Heat.  Lebron James, Dwayne Wade and the rest of the Miami Heat own the NBA Championship. Yes, I know they still have to play the San Antonio Spurs but come on! There is no way the Spurs have a chance against this team. The Heat have been playing awful and still they win. Last night they finally got some production from Dwayne Wade and look what happened.  And for all you Lebron James haters out there because he left Cleveland, you need to get over it. I admit he was stupid to make such a big deal out of it with all the press conferences and hoopla. But moving to Miami was smart, very smart. By joining Miami and keeping Wade there he all but insured a long run at the NBA Championship. He looked at other great teams and learned he needed to have more than one superstar to achieve greatness, i.e., the Lakers with Magic and Kareem. Miami now has all the tools…they have a great bench, great role players, and great superstars. Their biggest weakness, besides Wade’s knees, was in my opinion the coaching staff but that too seems to be improving. For example, putting James on Paul George last night was a brilliant coaching move by Erik Spoelstra. I’ll take the Heat to win the Championship this year, and next year too assuming they are all back and healthy.

My Schedule:  I have a conference call with Operations this morning from 9-10a. Then I have an appointment in Irvine at 10:30a and another at 3p. In-between I will return emails and calls but please be patient with replies. If urgent, text me 619-549-9797.

My Market Watch:  Bonds Down – Pricing Worse. The 30-year bond was down -20bps resulting in pricing -0.250 worse from yesterday morning.  Tomorrow is the ADP Employment Report. Friday is the Jobs Report and so far based on what I’m reading we are expecting 170,000 new jobs to have been created in May. Remember, the number of jobs created is irrelevant…it’s more about what we expect versus the actual number that matters. If the number is much less or much higher than expected, then trading will really fly. Up until the report, traders can only predict what will happen and buy and sell according to their best guess, based on opinions and other data, like this blog (most traders on Wall Street read my blog to decide what to do…NOT).

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