Good Wednesday AM on this best day of the week,
CPI out today and was tame. For all of the inflation hawks, this should put your mind at ease for a little bit. Treasuries are not improving though as we would expect. Expectations are the stimulus plan will pass, possibly as early as today. There is a 10-yr Treasury auction, which is all important as it will drive the direction of rates. If it is strong, we can assume we have seen the worst in yields and that pricing will improve. If it is not strong, well, buckle up buttercup, it could be a wild ride. As always, it is a better idea to lock in a volatile market.
THE WSJ shared that 41% — is the percentage of Lake Mead that is currently filled. The largest reservoir in the Southwest relies on dwindling flows from the Colorado River and is among one of many across the region whose water levels have fallen during an extreme drought. The arid weather has affected most of the land in Colorado, New Mexico, Nevada, Utah and Arizona. With a warming climate and shifting atmospheric pressures exacerbating dry spells, federal officials have warned that Lake Mead’s expected shrinkage in coming years could trigger water cuts to millions of users.
Please remain safe and healthy, make today great.