A Lot of Market Stuff & the Maui Invitational!

This week’s Market Update is posted and includes the following;

The spread between two year and ten year treasuries narrowed to 63 basis points last week (61 basis points this morning), keeping fears alive that we are on the way to an inversion. T. Rowe Price made some noise last week calling for the spread to zero out in 2018 with most of the narrowing coming from increases in Fed policy. The FOMC obviously understands the implication of an inverted curve (it’s recessionary because lending is no longer profitable) so something may have to give in terms of the FOMC stopping short or allowing the curve to invert if the market doesn’t bail them out with higher long rates.

Please click through to read the entire update.

In honor of the Maui Invitational, a couple of pictures from when I went in 2008 and 2009.

KONICA MINOLTA DIGITAL CAMERA

KONICA MINOLTA DIGITAL CAMERA

KONICA MINOLTA DIGITAL CAMERA

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