Common stocks can’t decide what to do – go up because interest rates are falling or go down because the economy may finally be softening and heading to recession.
The 10 year treasury is trading with a yield of 4.11%. Employment is softening–per ADP anyway. Makes me more curious on what we will see Friday with the ‘official’ numbers from the BLS.
As I figured I am doing nothing at all. I did look at the Bridgewater Bancshares 5.875% perpetual (BWBBP) issue and pondered for a moment taking some profits–but no. I bought it for the over 9% current yield so just as well keep holding–plus I have no better idea at this moment. I guess for now I will just sit back and exercise some patience and do nothing.