Phil Grossfield's Blog


Thriller Terror Tears; End to Gov’t Shutdown Imminent

thrillerThriller Terror Tears.   My daughter screamed and ran into my arms. My son looked at me like I was completely out of my mind. I know it’s hard to believe, but I can be a complete bonehead sometimes – this be one of those times matey. Michael Jackson’s Thriller is in some kid-commercial during the SpongeBob Squarepants show. I started singing along and my daughter was amazed I knew the song. I told her there was a cool video and she wanted to see. MISTAKE!!  scaredI never thought it was scary but the opening scene is terrifying to an 8-year old, particularly when he transforms into a werewolf. Needless to say, I did not get any parenting awards this morning and no doubt I’ll pay dearly in my efforts to sleep through the night this evening…. Watch it here.

My Market Watch:  Bonds Up but Pricing Down – Gov’t Shutdown 16 Might End.  The 30-year Fannie Mae bond is trading higher on news that the government might reach an agreement and reopen. This is counter-intuitive since most believe an end would result in an improved stock market. Typically when the stock market is doing well the bond trading suffers. On thing is for sure, almost all economic reports and geopolitical news is taking a backseat to this issue. Traders seem to be focused on the government drama.  Based on the activity this morning, there is a strong likelihood we will have Reprice Improvements coming.

Government Shutdown Remains. It is now day 16…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 GOP leaders’ actions. I don’t mean to be overly political, but I am extremely disappointed.


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