Good Morning on this fantastic and best day of the week, Wednesday,
The 10-yr is at 1.13% and it is starting to get a little dicey in here. Mortgage bonds are also leaking, down 9bps. The economic news beat expectations. ADP Jobs was forecasted at 45k new jobs and the number came in over three times that. This of course raises concerns for Bond investors that that the Non-Farm payroll number (Jobs report) on Friday will be better than expectations and that could do real damage to interest rates. I am watching very closely today. If we slip much more, it will be a sign to lock anything closing in the next month.
There was a great article in the WSJ today on Hedge Fund Pershing Square betting big on Las Vegas. Here is a link.
Please remain safe and healthy, make today great.