January 29, 2015
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Deflategate III. It’s not difficult for a NFL QB to tell the difference between a properly inflated ball and a deflated ball. To wit, Drew Brees, QB of the New Orleans Saints (and formerly the San Diego Chargers) was handed two footballs on Conan O’Brien and Brees accurately judged one football to have 13 pounds of pressure and another to have 11. But he also said this, “throughout the course of a game a ball will come up and you won’t even think about how it feels. You’re programed to go through your read, throw the ball, no excuses. But if we just sat here and kind of gripped one, I could probably tell the difference.”
I want to believe they’re innocent…but now this?! Bill Nye the Science Guy explains the science behind DeflateGate.
iPhone Still Kills. Many of you took exception when I spoke the truth yesterday about Apple’s dominance in the cell phone space. For the record, any of you claiming your cell phone is better than the iPhone is wrong….sorry, but you are. Your phone is is ugly and inferior in every possible way compared to the iPhone. Sorry…I just type the truth.
My Market Update – 01/29/2015
The 30-year Fannie Mae bond is trading down -14bps this morning since yesterday’s close. Generally a lender’s pricing worsens when the bond is being sold off.
The bond improved yesterday after the Fed meeting probably because there was mention of a decrease in inflation. Bonds hate inflation so when traders heard inflation was less of a concern they invested in bonds. As of now the bond is trading right on the ceiling. Our rates did not improve yesterday afternoon unlike many lenders but our pricing is very aggressive this morning. But with the way bonds are moving right now, I would be concerned we could lose those gains. I advise locking if you have a need-to-lock-soon situation.