After weeks of decent gains it seems like maybe we move forward for the next 10 days with dependence on dividends and interest to move our account balances higher. Interest rates may well be at a level which will be sticky until the January 30/February 1 FOMC Meeting. This morning we have rates up 7 basis points to 3.47%.
Today we had no real economic news to move markets–but Monday we do have the leading economic indicators for December and on Tuesday we have the S&P manufacturing and services indicators. Each of these are semi-important numbers and will figure into the Fed rate hike on 2/1–although this hike is getting pretty well baked in at 1/4%–personally I thought 1/2% would be the right number based on strong employment–but I am very much in the minority on that number.
Today I am going to pull up my accounts and go through them and make sure I am balanced the way I want to be balanced. I have some full positions in some dicey issues that I may want to shift to some higher quality issues. For instance I hold plenty of the Eagle Point Credit 6.50% term preferred (ECCC) which has gotten a decent bounce back this month and I may want to trim it a bit and move it to one of the community banks–not sure what I will do.