Market Snapshot June 8, 2018
Good Morning on this fantastic Friday,
Aside from it being my daughters 21st bday (which is surreal in itself, and I am told I will need a few days to recover from), bonds are having an eh day. Down a little from the open, but better than yesterday as they rallied late afternoon. The 10-yr is at 2.93% and mortgage bonds are -5bps. I think the range is still 2.92% to 3.04. Being at the lower end of the range and before next week’s central bank meetings and volatility, (US, ECB, BOJ), it might not be a bad idea to lock and float down on any improvement. The only news out today was wholesale inventories came in at .1 instead of 0, markets not reacting. Mr. Trump at the G7 meeting but leaving early as I am sure he doesn’t want to listen to the vitriol from the other 6 countries. Friday’s over the summer do not tend to have much activity as trading desks are abandoned after noon.
Last, a big thank you to the Golden Knights who not only set records for a first year expansion team that will stand for a long time to come, but more importantly for being a beacon of energy for our community which fostered a sense of togetherness that was magical. #GoKnightsGo
Enjoy the weekend and first make today great!