FNMA 4.5% is actually down on the day this morning hovering at 22 basis points under where it started the day. We are looking at a 21 billion dollar auction of t-notes this afternoon in a few minutes so we will have to see what the results look like.
Interesting: the bond traded higher for three days in a row and then hit a "ceiling of resistance" at the 25 day moving average. Remember the ceiling of resistance and floor of support comments? (When the bond breaks above the ceiling of resistance...that becomes a floor of support.) Search "floor of support" at www.chadcan.com for more info.
BOOKS...
I have ALWAYS been a voracious reader. In the last few years I have been devouring psychology and business books. One of my favorites is the book by Chip and Dan Heath called "made to stick" which is a great marketing book full of great ideas for your business. It IS likely at your local library on CD if you commute and I would recommend it.
Just TODAY...I got a sample (the first chapter) of their NEW book about change management called "Switch". For those who receive this message as a newsletter: I have attached it. It is GREAT and is written with the meter and style that I appreciate about these guys. Enjoy. If you are reading this at www.chadcan.com: just do a google search for Chip and Dan Heath to download a copy.
I am in SLC for the next 2 days so will likely not be getting this message out. Email me if you would like an update on the bond market in my absence or just want to visit.
Cheers!
Chad
