Lock Watch for the Week of 3/19/2018
Volatility-O-Meter:
Mid-to-high. Fed meeting this week, but universal expectation of .25% rate increase). Not a whole lot of reports otherwise, but Washington chaos is always possible as well.
Economicalendar (all times are Pacific):
Mon, 3/19: Quiet.
Tues, 3/20: Quiet.
Weds, 3/21: Existing home sales (7am) and FOMC Announcement (11am).
Thurs, 3/22: Jobless Claims (5:30am) and PMI Composite Flash (6:45am).
Fri, 3/23: Durable Goods (5:30am).
10-Year Treasury History
2.87% Today
2.88% One Week Ago
2.88% One Month Ago
2.47% One Year Ago
Aerial Boundaries
Michael Hedges was an acoustic guitarist who, back in the early '80's, released two "albums" on the Windham Hill label (Breakfast in the Field and Aerial Boundaries), both of which somehow reached and fascinated me. If you had just heard those songs you might have thought the music was perhaps good, but you definitely would have thought it would have made an excellent soundtrack for the hardcore study of astrophysics at MIT. Fortunately, I was both not that bright and living on the other coast, and so on one evening in 1992 I drove from my disgusting apartment in Hollywood to catch him play at a small nightclub/theater in Orange County. I made sure to wear a black turtleneck because I was confident we were going to be sitting quietly throughout the show and I, at the height of my own rock star coolness, needed to look the part.
So it was that when the lights went down, Mr. Hedges was indeed not found sitting, leg propped with a classical footrest, but instead he comes rocking out with his Martin acoustic guitar on a strap, his hair in dreads, a headset microphone allowing him to sing, and a version of Neneh Cherry's "Buffalo Stance" exploding off his instrument. I had never seen anything like it before. About an hour later, I scraped my jaw off the floor and drove the 70-odd miles back to my dungeon to think about practicing a little harder...
Michael Hedges died tragically at the age of 43. His car skidded off Highway 128 somewhere near Boonville (he lived in Mendocino at the time of his death). One of these days I'm going to drive that stretch and see if I can locate the spot. If any of you know it, please comment below.
Don't get fresh with me,
Robert J. Spinosa
Vice President of Mortgage Lending
Guaranteed Rate
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