Any time I post ‘quiet day’ you can be certain it won’t be that quiet.
Today equities are up over 1% and the yield on the 10 year treasury is back down just under 4%. Why?? Who really knows. I see that the ‘services’ indexes were adjusted higher this morning–not showing moderation in this sector.
The Federal Reserve posted a monetary report to congress stressing the need for more rate hikes–Fed chair Powell will testify to congress next week on this report and of course take questions.
This morning I went ahead and locked down CD’s for $10,000 @ 5.15%–seems reasonable for a year. Plenty of cash in my accounts and so maybe out of boredom I bought these–but we will get better rates ahead–I think.