Well we got some darned decent inflation news this week in both the CPI and PPI–which doesn’t really change the course the Fed is on as expressed by Chair Powell yesterday–data dependent–but it doesn’t hurt the odds of a cut later in the year (my words not his).
The good inflation numbers are being helped out by higher 1st time unemployment claims as well as higher continuing claims.
The 10 year treasury yield of course moved in the direction one might expect–down–now trading at 4.24% which is down 19 basis points from the close last Friday.
This morning I had a number of CDs mature–and while I will put much of it back to work tomorrow in CDs and/or short term treasuries I am going to try to find a lucrative baby bond, term preferred or even a perpetual preferred. Whether I add to a current position or initiate a new position isn’t known yet–we’ll see what looks enticing later today and tomorrow morning.
