Well we had the big banks reporting earnings this morning and JPMorgan (JPM) and Wells Fargo (WFC) both beat forecast as was expected. I am more curious how the smaller banks are doing–the regional banks etc. I want to see how the commercial loans are holding up–some of the community and regional banks specialize in multi-family lending–how is that holding up?
Yesterday ended up being a very solid day in the markets–stable prices in equities with interest rates mostly flat. My portfolios move only minor amounts on days like yesterday- little up or little down–that’s fine since I am not really expecting upward moves in the portfolio, just hope to dodge any major losses.
I am sure most of you that have bought CDs and treasuries (like I have) in the last 6-9 months are very pleased with your interest payments when you look at your brokerage statement. Seeing a monthly 4 digit interest total is very sweet after seeing zip the last many years. Balance these receipts with some solid 6-8% preferreds and baby bonds makes for a great risk/reward balance. I actually bought a few 5 year CDs in the 5% area – not many, but who knows what the future holds so get a little when you can. IF we see inflation in the 2% area in a year or two 5% CDs will probably go away, but we shall see.
Well let’s get this day rolling–with futures and interest rates fairly flat we will likely see a quiet day without fireworks–fine with me.