Market Snapshot March 11, 2019

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Good Monday morning to you,

 

After a good run last week, bonds are giving back a bit of those gains today. The 10-yr is at 2.65% up from 2.63% on Friday (a close below 2.63% would fuel the next run for bonds to lower rates). This is not unexpected as its rarely a straight line in either direction. Retail Sales out this a.m. were stronger than expected which is helping stocks and putting some pressure on bonds.  Mr. Powell appeared on ’60 Minutes’ last night and shared his continued stance that 1) the US economy is doing well, 2) the Fed will be patient in the future as it watches global events unfold and 3) Mr. Trump does not have the ability to fire him.

 

Bonds are due for a pull back, so today may not be a not be a bad day to lock. From Doug Duncan: “The yield curve is basically flat out to 5-year Treasuries and then with modest increase in yields out to 30-year. The Fed patience will anchor the low end of the curve with movement to the long end influenced by economic data over the next few months.”

 

Make today great!