Phil Grossfield's Blog

Fantasy Football Woes.   I’m having the worst Fantasy Football year ever. For many of you this news is probably extremely disappointing. I know, I know, you expect more from your Rep, but I just can’t get it together this year. I’ve been playing in my homie group for about 20 years, I even won it once, but this year is the worst ever…my team is just awful. As an example, I think my Defense is my best player. I’ve had injuries and players just not stepping up. This season is already over. That’s all I have to say about that.

My Market Watch:  Bonds Down Slightly – Gov’t Shutdown 15 – Fixed Pricing Worse.  The 30-year Fannie Mae bond is trading lower on the day but is actually up ever so slightly since our rates were published. But don’t expect a reprice improvement…everyone is listening intently on Washington…its everything right now.  Trading has come to a halt as everyone is keying listening to Capital Hill and the Fed. Once again the GOP attempted to resolve the impasse by trying to sneak in an alteration to Obamacare. Dudes! Obamacare is already a law…it was already enacted! You can’t change that this way…it’s inappropriate…it’s, it’s, it’s not right. GET OVER IT! Aaiiyyaayyaaaaaaaaaa.

Get Locks Before The End. I think it’s fairly obvious at this point that an end to the shutdown will result in a resurgence in stocks and bonds will suffer. An end is imminent in my opinion…I advise you use it as a catalyst to get some locked loans. Simply put, an end to the shutdown will increase a demand for stocks since traders will want to invest in the economy. When that happens bonds usually sell off which lowers its price. Capital Markets typically responds by adjusting rates/pricing for the worse.

Government Shutdown Remains. It is now day 9…I reiterate my point that Obamacare is a valid law, enacted by due process.  Again, if Republican leaders don’t like it, then they should work to change it using constitutional methods, not extortion. Whether you like Obamacare or not, and whether you are Democrat or Republican or otherwise, you should not excuse our leaders’ actions. I am extremely disappointed in our Republican leaders.

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