Another Weakening Inflation Number

Well today started off right with the producer price index showing a month over month reduction in prices of 1/2%–of course it is just 1 months worth of data so to some degree not ultra meaningful, but just the same it feeds into the interest rate decision in 3 weeks. 1st time jobless claims were up from last week and above forecast a bit which is also an important ‘sign’ for the Fed.

Tomorrow we have what is normally a batch of less important economic news – but in recent history everything can be important.

Interest rates are pretty much holding flat at 3.42%–doing nothing at all.

Preferreds and baby bonds are mostly holding their own – with a green tilt up. I keep checking my good-til-canceled buy orders and nothing happening there which is fine–I have plenty of dry powder, but as long as it is collecting 4-5% I am happy being very patient.

I see the Triton (TRTN) preferreds are mostly up 2-3% today–I suspect they will climb back over the course of the next week or two, but folks are pretty risk adverse so I doubt we see all the losses from yesterday recouped–but who really knows. I pretty much don’t play in these situations anymore – just not motivated to take the risk.

Well let’s see if equities hold their gains without puking today–unlike yesterday.

One thought on “Another Weakening Inflation Number”

  1. Wow, I see Triton fell off a cliff yesterday morning.
    a) I read a couple comments on here about the preferreds not being redeemed or bought out
    b) I’ve never had good luck with mergers/buyouts so I noped out of the trtn-C’s at $23.85-24.00 at the opening bell

    I had 10% gain and 2 divi payments so I can’t complain minus the shady nature of many preferreds. Glad this site is here!

    Hopefully, for everyone who is sticking it out you get paid the full $25 and/or the divi keeps being paid.

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