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A Nicely Green Day

Yesterday was a nicely green day in all my accounts—the 10 year treasury tumbling 13 basis points will do that. It is always helpful to have common shares move higher–although common shares being dragged higher and higher based on a few tech stocks seems like a long term recipe for trouble down the road, but once again with the amount of money on the sidelines (really in money markets, CDs and treasuries) there is plenty of future dry powder.

I see that the NASDAQ is up 1% this morning with the S&P500 being drug higher with the tech stocks composition–the DJIA is lagging. Interest rates are up by 4 basis points this morning. Yesterday we had the purchasing managers indexes for services and manufacturing come in soft and of course today we have 1st time unemployment claims which is one of the most closely watched pieces of data – the forecast is for 240,000 1st time claims–claims numbers at this level hardly indicates economic softness.

As I mentioned yesterday I am on the road for the balance of the week into Monday so likely will do no buying or selling, but I do have a number of good til cancelled buy and sell orders out there so maybe something will execute but doubtful since my price levels are aggressive.

I am checking CD rates while I am away—not seeing anything above 5.5% this morning so will just keep watching–by the end of September decisions will have to be made on whether to lock down some more as I have maturities throughout the next 5 weeks and I don’t want funds to build up to too high of a level when there good alternatives available.

5 thoughts on “A Nicely Green Day”

  1. Tim, just FYI, the A+ rated UnitedHealth Group has 02/15/2030 bonds, coupon 5.30%, trading a little over par at a yield of 5.02%.
    And there’s no call : )

  2. A Chase 5.7% 5 year callable CD is (again) available at E*Trade.

    CUSIP 46656MLM1 5.70% – Issue date 08/30/23, callable 08/30/24, maturity 08/30/28

    Slighlty less than $ 4MM available

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