Friday, May 30, 2008
Consumer confidence fell to a 28 year low according to the University of Michigan. This is the lowest reading since June 1980. To make everyone happy income rose .2%, but inflation is now expected to surge 5.2% (highest since 1982). Here I thought only bad hairdo's came from the 80's. With fuel costs nearing $4.00 a gallon, words like stagflation and staycation are starting to show up more in the news. Speaking of oil, the federal government has been investigating... well... the federal government for possible price manipulation in the U.S. oil markets. The bond had been up as much as 48 Bp today, but has settled in a mid 20's range for the day. With stocks having a hard time keeping gains, Bonds may recoup the last weeks losses if stocks go on a sell off. On a side note, if you want to invest, think about Spam which has actually seen a surge in sales.
Karl Menzer
435-849-0212
Comments(0)