Let’s start with a little political “rangling”. No pun intended towards the now de-throned House Ways & Means chairman, Charles Rangel. He let Queen Pelosi know that he is temporarily abdicating the chair while an ethics panel reviews some shady behavior. All is not well in the Mudville called the democratic caucus.
Turning to the market, eyes are on Greece again today as they announce a plan to stabilize their debt. The global markets seem to like it unless you are an FX trader long USDs. The rally in the Treasury market also seems to be slowing with yields rising a bit, but I still believe the prolonged flight to quality will continue.
Toyota’s sticking gas pedals are inspiring the Obama administration to consider a forced mandate on auto manufactures to some how disable acceleration if the gas pedal and brake are both engaged simultaneously. Now, I do not profess to be the sharpest tool in the shed, but it seems to me that this will cause quite a conflict for the millions of two footed drivers out there. Seems like quite a step considering that not one proven accident has occurred from this malfunction – I wonder what the CEO of GM thinks? Oh, wait, that’s Barack Obama too.
Lastly, on our index linked CD product, we have created a really interesting spreadsheet providing a historical return profile for the past 30 years using the structure we are marketing. Please let us know if you would like to see it. When looked at over a rolling four year period, I think you will find a lot of your customers could get behind something like this. Give us a call and we’ll send it to you.
Have a good week.
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