Geez what a difference 1 day makes. The talking heads were pondering the plateauing of interest rates just yesterday. So of course rates jump and the Fed chair says they probably will move forward with 3-4 interest rates hikes in the coming months barring soft economic data–gee what a surprise–NOT. This is what they have been saying for 6 months. Whether we agree or not that is their plan.
No surprise to us and no damage was done to our holdings by the tick up in interest rates–they closed at 2.91% today. Fed Chair Powell will testify at the Senate on Thursday.
We made 1 purchase today and we will write further at length tonight on our thoughts on the purchase.