Well he we are again gearing up for economic news–seems like it is every week. I long for the days when we didn’t have to deal with economic news every darned week. Of course the economic news, which transfers to interest rates, gives us opportunities for investing that we haven’t seen for a very long time.
I’ve always said ‘just give me a decent 7% and I’ll be happy’. So buying the Affiliated Managers Group 5.875% baby bond (MGR) yesterday must have made me happy—well that might be a stretch–although I am satisfied to get 7.16% on that investment grade security. The point here is that there are great investments out there–are you going to take advantage of them–or are you going to look in the rear view mirror and say ‘I wish I would have bought it at $20’ as the share price hits $25 in 24 months?
So the employment report comes out in 15 minutes. 205,000 new jobs are expected with the unemployment rate steady at 3.5%—200,000 new jobs would be nice with unemployment at 3.6%. I don’t want to see the equity market ‘party’—I just want to see some stability for a few days. I actually fear a 250,000 number with 3.5% (or even 3.4%).
So sit back–and of course, just in case, buckle the seat belt.