Punks…All Punks! Bonds Up – Pricing Strong
Punks…All Of You! You’re All Wrong About the NBA Finals
My post yesterday that the Miami Heat would win the NBA Finals was met with a flurry of emails from dissenting readers. Look, I know the Spurs are good…they’re in the Finals and that should be enough to prove that point. And yes, Parker is arguably the best point guard in the game. And Yes, Ginobili is brilliant at times. And yes, Leonard can be an explosive role player. And I’ll even concede that the Spurs have a leg up with coaching with one of the best coaches ever in Popovich. But against the Heat, they’re all punks. Lebron is going to make Leonard look like a lost puppy…he won’t be guarding him for long.
And as far as Ginobili goes against the Heat, he’s a punk who will only show up in spurts but it won’t be enough. And Duncan, he’s old. And Parker? Well, I can’t really talk much smack about Parker…if he’s on all cylinders he’s pretty much impossible to stop. But bottom line, if the Heat are on their game, they cannot lose. Wade’s going to be a different player starting tomorrow, guaranteed. And without Hibbert in the game Bosh might even show up for the party. And if Allen gets going, watch out! And if it’s a close game, I’ll take Lebron to win it. I was watching ESPN last night and it seems everyone thinks the Spurs are going to win in 7. I think they’re all wrong and so are you. YOU’RE ALL A BUNCH OF PUNKS! How do you like me now?! I’ve got the Heat in 6. That’s all I have to say about that.
My Schedule: I have an appointment in Irvine at 10:30a and otherwise available.
My Market Watch: Bonds Up – Prices Strong. The 30-year bond is up +32bps so far. We’ve seen this before though…bonds get bought by traders early in the morning and then sell off before the coffee is done brewing. I hope it sticks today! This morning was the ADP Employment Report and bonds were unaffected. The report indicated less new jobs than anticipated which is obviously considered a negative report for the economy. In turn bonds picked up while stocks declined.
Friday is the Jobs Report and so far based on what I’m reading we are expecting 160,000 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. More to come….