Well we got the Jay Powell ‘gift’ yesterday and folks are still arriving at the party. While I loved the .4% gain yesterday I wasn’t expecting another .3% today—can’t complain.
Folks are scouring for bargains–I think there remains a lot of them out them, but you may have to redefine ‘bargains’. For those that are braver than me th mREIT preferreds still show bunches of current yields in the 8-9% area--if rates continue lower these are going higher. Heck I might even get on this move.
The 10 year treasury is now trading down at 3.91%–even after jobless claims that were less than expected and decent retail sales numbers. Equities are struggling just a bit–but higher. We are at all time highs—crazy—hope a soft landing is coming.