Phil Grossfield's Blog

A LITTLE EXTRA…

San Diego Gaslamp Brothels; Jobs Report Friday

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San Diego Gaslmap Brothels.  I had no idea there were so many brothels in San Diego…in the past that is. Last weekend my wife and I went on a San Diego Tasting Tour, compliments of my in-laws’ generosity. When they bought us the gift certificate, I don’t think they knew it was a Brothels, Bites and Booze tour.

marbleroomI had no idea San Diego was such a rough and wild town in the olden days…but it was! In fact, it was a downright red-light district, a mecca of brothels, and some remain today. Not in the traditional sense though…now they are home to modern-day brothels like The Marble Room. This place used to be the real deal but now it is a restaurant and saloon. Madame Cora apparently used marbles instead of currency in an effort to bypass legal issues…supposedly this is where you would lose your marbles, if you get my drift.

wyattearpEven the notorious Wyatt Earp lived here and had a gambling hall next door…now there is a restaurant in his name. Our tour guide was awesome…she explained how the city was built and developed as we strolled through town checking out the old buildings and their stories. However, one story in particular sticks in my craw. She said pirates would comb through downtown San Diego looking for drunkards. They’d spot you, follow you, and wait until you were passed out. When you awoke you’d find yourself in a cellar, shackled and gagged, ready for your new job as a slave on their outbound ship in the harbor…bon voyage!

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My Market Watch:   Pricing Improved – Bonds Up. Jobs Report Friday

The Fannie Mae 30-year bond is up +19bps on the day and fixed rates improved to the beginning of yesterday before the price worsening. The Jumbo Non-Conforming pricing has not been affected and remains strong.
c34Friday is the Jobs Report which always has a way of impacting the market in a significant way. I’m holding off on any insight at this time…tomorrow I’ll give you my thoughts. However, the more pressing story is where the bond is currently trading which is below the 200-day moving average. As I said at the end of last week, unless we have an economic report to push the bond higher, the trading will continue below which isn’t favorable for our rates/pricing. The Jobs Report would have to be quite weak to give us the boost we’re looking for. That is, if the Jobs Report shows less new jobs in the economy than expected, then traders will put their money into bonds and rates/pricing will likely improve. Tomorrow I’ll provide insight into the best guess on that issue….


JOIN MY TEAM FOR CANCER RESEARCH!  All You Have To Do Is Not Shave! 

MOVEMBER.  Last year I grew a gnarly mustache. It was so thick you could barely see my face at all. I’m 46 and my Dad had, and beat, prostate cancer. This is why I don’t shave to support Movember…a charity for research aimed at men’s Cancer afflictions. If you’d like to join my team, click here. If you’d like to donate, even $5, click here. Thanks.  All you have to do is not shave!  

Movember is a fundraiser for research in battling male Cancer afflictions.

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One response to “San Diego Gaslamp Brothels; Jobs Report Friday

  1. Joan grossfield November 10, 2013 at 5:21 pm

    I want to go on that tour when we come! Mom

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