Phil Grossfield's Blog


Passenger Shame!

passengershamePassenger Shame.  Flying this year?  I hope you don’t run into any of these people.  A former flight attendant reports on her Passenger Shaming Facebook Page the disgusting behavior of our fellow travelers.  Yich!  Check out the CNN video:

My Market Update – 12/23/2014

The 30-year Fannie Mae bond is trading down -36bps since yesterday’s close.  Generally a lender’s pricing worsens when selling off.  Today’s pricing is worse by about 0.100, less than an eighth from yesterday’s close.  But it could get uglier…

gdpWatch out!  ALERT!  Bonds are down -36bps which is +20bps worse since rates were published.  This is just close enough to warrant a mid-day reprice for the worse so if you were planning on locking today this is the time to do it…before Capital Markets pulls the trigger…

Stocks are responding well this morning to news that the GDP, Gross Domestic Product, was higher in the third quarter.  GDP measures the U.S. economy…it is everything produced by all the people and all companies in the U.S. and it is higher than it’s been in over 10 years.  That is a very strong report as to the strength of the U.S. economy and as we know, Traders love to invest in stocks when the economy appears stronger.  When traders invest in stocks it’s usually at the expense of bonds and since lenders publish rates/pricing based on the bond market it’s easy to see why rates/pricing are slightly lower this morning.

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