Good Tuesday Am,

Bonds selling today off in a big way today.

The Fed Funds future rate (which shows what markets are guesstimating the Fed will hike rates to) is at 5.15% today (see below). Much higher than where we were just 2 and a half weeks ago. Most asset classes in the red today as a result. The 10-yr is a 3.93% and a long way off from the 3.40 range back on 2/2. It’s bumpy for sure. Traders love the volatility though, as they can profit on the spreads. Lots of news this week starting with tomorrow’s release of the Fed minutes. The only positive I can think of today is that we are very oversold. The most in six months so buyers will step in at some point.

There was a blurb out today about retirement.

Puts things into perspective. To retire comfortably, you need somewhere between $3 million and $5 million — that’s according to 553 professional and retail investors worldwide who shared their views in the latest MLIV Pulse survey. Inflation and rising borrowing costs drove the average US 401(k) retirement account down 20% last year, and respondents were not as sure about whether they’d ultimately have enough saved to maintain their lifestyle in retirement. “While inflation appears to be cooling off, it increases the amount of funds that a person needs to have in retirement,” said Christine Benz, Morningstar’s director of personal finance and retirement planning.

Please remain safe and stay healthy, make today great!