March 10, 2014
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A-Wop-Baba-Lumop! My daughter turned 9-years old this weekend and for her birthday we had a party at the house…she invited seven girls. Being the Super-Mom she is my wife planned games such as charades and had a build-your-own-sundae-bar complete with fruit, whip cream and other and saucy toppings…yum!
For the main event of the party the girls piled into our family room to watch Teen Beach Movie…apparently this is the big thing because all seven girls knew all the words and the dance moves…this is when my wife and I looked at each other and rolled our eyes. The best I can do to describe it is to compare it to Beach Blanket Bingo of the 1960s. But my generation watched Grease…the greatest of all-time. For the record, I was hopelessly devoted to Olivia Newton John, particularly when she did her Tell-Me-About-It-Stud song…I GOT CHILLLLLS…THEY’RE MULTIPLYING!!!!!
My Market Watch: Bonds Up +13ps. The Fannie Mae 30-Year Bond is up +13bps since Friday’s close. A lender’s rates/pricing improve when the bond is being bought.
There are not many reports this week so look for geopolitical news to affect markets. As of now the bond is trading in a positive direction and I hope it stays this way. I just read that the one of the Fed members believes QE tapering should be accelerated…that kind of rhetoric doesn’t bode well for bonds. If you recall, QE tapering is the process of decreasing the amount of bonds the government buys. Traders shy away from buying bonds on the news of increased tapering. But so far bonds are holding well. If I see significant trading going one way or the other I’ll let you know….