Unless there is some miraculous turnaround before the close, I owe you $250. You have 2 weeks to send me where to mail my check (I also sent you a PM) If I don't hear from you I will make the contribution to MFO. Not to repeat myself, but this shows the value of trading/investing in what you see, not what you think. No way in the world did I envision back at the beginning of 2014 that the 10 year would be below 2% some 12 months later - or for that matter 3%. Yet because I trade/invest in price action and not my opinions or what I think (a sure ticket to the poorhouse for me) or try to catch falling knives, I had my second best year ever (dollar-wise) thanks to the junk muni funds. My dilemma now is do I stick with the junk munis (which were hit hard in 2008) or go to the safer investment grade munis? Will let price action dictate that decision or where to go next. In the meantime, hoping for an absolute rout in the junk corporate markets thus setting up a great buying opportunity somewhere down the road, however long or short that road may be.
Comments
Geez, eh? Been watching from last Friday and wondering when and where the yield journey would travel. And the 30 year.....have been monitoring this for about 1 month; holy crap, Robin would express to Batman !!!
Our house is pleased to have our IG bond friends, at least for the past few days.
Lastly. The scariest headline I read today is that "Congress is back to work, after the elections."
Take care,
Catch