Up in Smoke
Cigarette Quote of the Day: “Smoking is one of the leading causes of statistics.” – Fletcher Knebel (author)
Wuss’up Last Week: Rates improved slightly last week, sadly, in response to the struggling Japanese stock market. When instability makes investors scared of losing their money, they will take money out of the market and put it in a safe place–in this case, US treasuries and bonds. (Side note: This is very similar to when we were remodeling my house and I had to move my secret cash-stash from the basement to the garage so my wife wouldn’t find it.)
Wuss’up This Week: Those same investors are now capitalizing by buying shares in Japanese stock at lower numbers. In other words, they are putting their money back in the market, which caused rates to go up slightly at the beginning of this week. What can sway rates this week? The Q4 GDP 3rd estimate. No clue what that means, but it comes out this Friday morning. (Actually, I’m half joking. This report measures US economic production. Weakness in this report will lead to lower rates).
Cigarette Quote of the Day 2: “It’s 106 miles to Chicago, we gotta full tank of gas, half a pack of cigarettes, it’s dark, and we’re wearing sunglasses.” – Elwood Blues (Dan Aykroyd), The Blues Brothers (1980)
Timeout for Trivia: Congrats to all of you last week who guessed Rob Lowe. Want to be entered into a drawing to win a pack of strawberry Big League Chew gum? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “In 3 days I turn 61. While I’m not a tall guy, I still get noticed in the showbiz world. For many years, I stalked Pat Sajak (he’s so mental); however, I gave that up to drive George Banks crazy. But I should stop doing that, as one day my own daughter might get married.”