Lock Watch for the Week of 4/29/2019
FOMC meeting and announcement this week, but no rate change expected. Still, watch the language and watch the employment report on Friday too.
Economicalendar (all times are Pacific):
Mon, 4/29: Personal Income and Outlays (5:30am).
Tues, 4/30: Case-Shiller HPI (6am), Chicago PMI (6:45am), Consumer Confidence and Pending Home Sales (7am).
Weds, 5/1: ADP Employment Report (5:15am), PMI Mfg Index (6:45am), Construction Spending (7am) and FOMC Announcement (11am).
Thurs, 5/2: Jobless Claims and Productivity and Costs (5:30am), Factory Orders (7am). Fed Balance Sheet (1:30pm).
Fri, 5/3: Employment Situation and Int'l Trade in Goods (5:30am), ISM Non-Mfg Index (7am).
10-Year Treasury History
2.53% Market Open
2.58% One Week Ago
2.41% One Month Ago
2.95% One Year Ago
American journalist/satirist H.L. Mencken (1880 - 1956) had some racial and ethnic views I strongly opposed but some insight into politics and democracy I find amazingly prescient. Here are some of my favorite quotes of his:
“An idealist is one who, on noticing that a rose smells better than a cabbage, concludes that it makes a better soup.”
“A cynic is a man who, when he smells flowers, looks around for a coffin.”
“Explanations exist; they have existed for all time; there is always a well-known solution to every human problem—neat, plausible, and wrong.”
“The older I grow, the more I distrust the familiar doctrine that age brings wisdom.”
“Conscience is the inner voice that warns us somebody may be looking.”
“Puritanism: The haunting fear that someone, somewhere, may be happy.”
“Truth would quickly cease to be stranger than fiction, once we got as used to it.”
“The best teacher is not the one who knows most but the one who is most capable of reducing knowledge to that simple compound of the obvious and wonderful.”
“I am suspicious of all the things that the average people believes.”
“You can't do anything about the length of your life, but you can do something about its width and depth.”
“Democracy is the theory that the common people know what they want and deserve to get it good and hard.”
“As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron.”
“The men the American people admire most extravagantly are the most daring liars; the men they detest most violently are those who try to tell them the truth.”
“The most dangerous man to any government is the man who is able to think things out for himself, without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, and intolerable...”
Roses are red...
Robert J. Spinosa
Vice President of Mortgage Lending
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