Vikings Crush Chargers – Big Daddy Crushes Grossfield. I scored the third highest points this weekend in my Fantasy Football League. Guess who I played against, go ahead, guess. Yup, Big Daddy (his high school nickname because he had a huge hairy chest at 16-years old and basically was the center of our group) had the most points and of course, that’s who I played against. Woe is me.
My consolation prize? The Minnesota Vikings crushed the San Diego Chargers. Now you’d think that living in San Diego for 15 years would turn me into a Chargers fan, and you’d be right. Unless they’re playing the Vikings. In that case I hope for the Vikings to humiliate them on the field and turn those 300+ football players into crying babies. Mission accomplished. That’s all I have to say about that.
My Market Update 9/30/2015
The Fannie Mae 30-year bond is +6bps since yesterday’s close. Generally a lender’s rates/pricing improves when the bond is being bought.
The big news will be next week’s Jobs Report. After a fantastic week for bonds with rates dipping to lows not seen in 5 months, next week’s report will likely have a significant impact on pricing. A strong Jobs Report, which will tell traders the economy is stronger than expected, would spur investments into stocks. The result would likely be a sell-off of bonds and forcing rates/pricing worse. However, a weak Jobs Report, which will tell traders the economy is weaker than expected, would spur investments into safer bonds instead of stocks. The result would be improved rates/pricing. I’m really throwing some positive energy towards the latter scenario…if it happens bonds could really push much higher greatly improving pricing. More on this next week…