Our site runs on donations to keep it running for free. Please consider donating if you enjoy your experience here!

Interest Rates Popping

The 10 year treasury is popping today and stands at 3.77%–up 15 basis points.

Equities, after screaming higher for 2 sessions, are taking a bit of a break today, although they have clawed their way back from a steep loss to be down only about .9%.

All in all it looks like a little reality is setting in–the Fed is not going to pivot (as far as we all know)–thus far the data is weakening, but the Fed simply is not going to signal a pivot–they may do a moderation, but they sure are NOT going to advertise a pivot.

Preferred’s and baby bonds are pretty red today–but most of the losses are modest–maybe 1/2% with some of course with 1% losses.

Today I haven’t yet even opened any of my brokerage accounts–not planning to do a darned thing (subject to an instant change if something tumblers and begs me to buy it). I have been pondering a bank buy–maybe the new Merchants Bancorp 8.25% (MBINM)–or maybe one of the Customers Bancorp live floaters. Maybe a nibble of each. I do own some of the Customers Bancorp 5.375% baby bonds (CUBB) and may add a little of that with a current yield of 6.72%–we’ll see.

Leave a Reply

Your email address will not be published. Required fields are marked *