Market Snapshot October 9, 2018
Good Tuesday A.M.,
The bond market thankfully had a day off yesterday giving traders room to pause. No data today, but after the beating we took last week, bonds are seeing some relief this morning. Yesterday, the IMF revised its growth projections lower by .2% (first time since 2016) based on trade concerns (tariffs). The 10-yr is DOWN to 3.21% (how about that for cold water) and mortgage bond are +17bps. Most of the move appears to be a technical retracement. The discussions between Italy and the EU are heating up again. Italy does not want to cut their deficit in 2019. If this continues to escalate (from history, that is unlikely), we could see more buying in bonds.
Not much else to share so I thought I would share two quick snippets:
- Did you know that a shocking 62% of Millennials will switch brands after one bad experience?
- Parents in the U.S. spend a staggering $500 billion annually on their adult children (I know I’m contributing my share)— twice the amount they put into retirement savings
Make today great!