Rates are up!

Happy Friday!

Whoooop! We are taking my kids to their first Texas A&M football game! I am an Aggie, and have not been back in over a decade! I know, I'm a slacking alumni, but now my kids are at the age they can enjoy it. So here we go!!!!!!!! Beat the heck outa Auburn!

 

In the markets:

 

As of late Thursday, the rates were at the highest level in 7 weeks. Fed Chair Janet Yellen in recent Fed meetings almost all but promised that there will be a rate hike in December. In other words, investors are bracing themselves, and with that positive news means increased earnings for banks and the like. Profits! Banks have been earning very little for a long time. With the overnight funding rate at almost zero percent....that is free money!? On the other hand, businesses will have to spend more to borrow. Uh Oh...the pendelum swings both ways. Either way, this kind of news makes markets go crazy. Good and bad. So stocks have been up, and that makes bonds suffer, with lower prices from lower demand, and therefore, higher yields (rates).

 

Then we had a mid day reprice when the jobs report came out stronger than expected. More signaling of a strengthening ecomony, and more ammo for the rate hike (possibly) in December.

 

Stay tuned.........

Upcoming Events

Lunch & Learn:

How to Make 2016 Your

Best Year Ever!

Wednesday, November 18th

@ 12:00pm

At our office

*Lunch Included!*

-

Breakfast & Learn:

How to Make 2016 Your

Best Year Ever!

Thursday, November 19th

@ 9:30am

At Tradition Title Company

4000 Washington Ave, 77007

*Breakfast Included!*

 

RSVP to Annette:

713-579-3606

Annette.ernstein@legacymutual.com