In this episode Scott Becker discusses:
- The markets point down today after the S&P and the Nasdaq were also down Friday.
- The markets remain up year to date. The Nasdaq is up nearly 13.5%, the Dow a little more than 2% and the S&P 500 6.67%.
- The 10 year treasury yield is close to 3.9%, its highest in some time. The 1 year is at 5.04%.
- Bitcoin is up 50% year to date and nearing $25,000.
- Office buildings start to default on bank loans.
- Another article in the WSJ points to a newer type of corporate financial virtue signaling. Companies announce layoffs to please the markets but really cut very few jobs. See ” Big Layoff News Doesn’t Always Mean Big Job Cuts”.
- Two types of Treasury default risk. Short term investors are concerned about the US debt limit. Long term they are concerned about the overall debt the US is taking on.
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