Well just an hour to go and we have another round of economic news (the CPI) that will more than likely send markets straight up or straight down–or if we are super lucky markets will do nothing at all–low odds of that happening.
Markets are expecting .4% and .3% on the core (ex food and energy) month over month. Year over year is expected at 6.2% versus 6.5% last month with core expected at 5.4% versus 5.7% last month. NOTE the the bureau of labor statistics (BLS) is making a couple changes in how the CPI is calculated for January–you can read about it here. They had made some changes in late 2022 also–so who really knows if we have apple to apple numbers.
Monday we saw the 10 year treasury yield move a couple basis points lower to 3.72% –really just drifting a bit. Equities moved solidly higher–over 1%. Guess investors are pretty confident in a favorable CPI report.
My accounts were green by .2% on Monday–nice after a few red days–but really meaningless –plus and minus a bit – I am hoping to just hold the line and collect dividends and interest.
Once again I trimmed a little today – very little. I had a Good Til Canceled sell order in on OFS Credit 6.125% term preferred (OCCIO) that triggered. No buying again and I have a decent stash of dry powder now-guessing maybe 13% . It seems to me that there is no rush to redeploy $$ when I can get over 4% in money markets right now.
Ok–let’s get it going!!