The employment cost index came in a little softer at 1% than the 1.1% expected while the Case Shiller home price index showed a 3.1% reduction –both playing into the scenario of a softening economy. What is bad news is good news today–equities are up 2/3% and interest rates are off just a tiny bit.
As I expected dividends and interest payments hit the Fido account already giving me a 4/10% bump today–no skill needed for that–just have some investments. eTrade is always late crediting payments so have to wait until tomorrow for that ‘bump’.
So I am in the position of now having a little cash ready to invest, but not having a setback in prices to deploy it–patience is the key I guess–as many have noted at least I am getting near 4% on idle cash–a damned sight better than a year ago.
2 thoughts on “Softer Economic Data Drive Rates Down–a Bit”
A somewhat random question here. I see that you have Fido & eTrade accounts, which I also have. ETrade was bought by Morgan Stanley and recently I received a notice from them that our eTrade accounts will be “transitioning” to MS in 2023. I’m curious what you or anybody else think of this.
Thanks – Coaster
Hi Coaster–seems like I seldom receive their ‘notices’–apparently my email doesn’t like them. I did finally put a new email address in so maybe my notice is there–I have 3 accounts with them (IRA, Cash and Roth IRA).
I don’t really have an opinion–in a prior life I worked for MS for a bit. I assume they are ok?