While interest rates are higher by 7 basis points that is only 1/2 the 14 basis points higher move earlier in the day.
Equities are down–but a very orderly market–no panic.
My accounts are red–but only mildly–I was braced for more downside action. We’ll see if markets hold up–remember we have the employment numbers for October tomorrow morning. Forecasts are calling for 205,000 new jobs with an unemployment rate of 3.5%–flat with last month.
Today I nibbled on (added to a position) the Affiliated Managers Group (AMG) 5.875% baby bonds (MGR) that have a current yield of 7.16%–investment grade. Yield to 1st call in 2024 is nearing 20% (not that they likely will be called)–maturity is out in 2059 so YTM is the 7% area.
For now that is all I am doing for today–obviously not a rush.