Phil Grossfield's Blog

Ghost Boy.  Unimaginable. He was in a coma, a vegetative state, for 12 years…but fully aware of what was going on around him. Every morning his father would give him a bath, feed him dinner, put him to bed, and then wake up every two hours to turn his body so he wouldn’t get bed sores. 12 years…12 YEARS!

Today, Martin Pistorius is free from that coma and is living in Harlow, England with his wife. He uses a computer to speak and a wheelchair to move around.

Did you ever see that movie Awakenings with Robin Williams? That’s what I keep thinking about. But in that movie Robert De Niro’s character didn’t remember things while in the vegetative state whereas Martin remembers everything. His book was released in 2013…I think I’ll have to read this one.

My Market Update – 01/14/2015

The 30-year Fannie Mae bond is trading up +28bps this morning since yesterday’s close. Generally a lender’s pricing improves when the bond is being bought.

A variety of reports including Retail sales have given traders a reason to conclude the economy is weaker. When traders feel the economy is weak they’ll pull money out of stocks and invest in bonds instead…it’s a safer bet.

Moreover, the bond has broken through a ceiling of resistance and is now trading north of that ceiling. If it holds, the ceiling will turn into a floor and provide support for better rates. This is very encouraging! Let me know if you want to discuss…