Adopt A Puppy? Huh?! I avoid pet stores that sell kittens and puppies for a reason…I cannot look at their faces or I’d buy them all. Keep reading…. I trust you will have a fantastic relaxing Labor Day Weekend. I have no idea what I’m doing this weekend but my wife has plenty planned…I promise.
We are probably going to hit the Del Mar races, which I always enjoy. And I know there’s more than one neighbor get together planned. Or, Maybe we’ll adopt a puppy?! Huh?! The Helen Woodward Animal Center, which is 5-minutes from my house and hosts a summer animal camp my kids attend, is offering a $5,000 reward for information to the blanking evil person responsible for mutilating four puppies. But I can’t focus on that…just too evil…let’s focus on the positive, shall we?! The pups are up for adoption. I have a feeling if we make it over there I will be bringing home a puppy. That is, if my wife and/or kids find their way to the center, there is no way one of those puppies won’t be coming home with us. This is precisely why I avoid stores that sell puppies and kittens. I just can’t look them in the eye and walk away…it’s not in my nature. Lord help me! Truth be told, I really don’t need another creature in my house. But look at that face…oh Lord!
My Schedule: I have a meeting at 10:00a and another just after lunch….
My Market Watch: Bonds Up Slightly – Pricing Unchanged From Yesterday’s Improvements – Lock Monday, Not Today. The 30-year Fannie Mae bond was trading slightly higher this morning but not enough to warrant an improvement in pricing, particularly after yesterday’s boost. Moreover, the way things are shaping up at the end of the month, I think this is a good time to lock in…but wait until Monday.
War is Still bad. But war is still not necessarily bad for bonds. However, now we must think about whether the U.S. will strike Syria after the UK Parliament voted against it. So, here are some things to consider over the long weekend. Will the U.S. strike Syria? If they do, we should expect the stock market to decline and the bond market to react positively. The reason is traders would rather not invest in stocks when there is market instability, and there is almost always market instability when we go to war. If traders pull money out of stocks, they almost certainly invest in bonds and when that happens our pricing improves. With September upon us, will the Fed begin tapering QE? If they do, and I think they will, we will see a sharp decline in bonds, and when that happens pricing will worsen. One thing is certain, September is going to be a wild ride. With yesterday’s improvements, I’d like in over the weekend.
Remember, unless you think pricing will change today, wait until Monday to lock. Our pricing remains good over the weekend until Monday night at 9:45p. If you lock Monday rather than today, you pick up 3 days on your lock term for free.