Historically, June 21st is my favorite day of the year. Not just because today is the ninth annual International Skateboarding day, but because usually it’s the day with the most daylight out of the 364 other days. This year, yesterday had the most daylight. If you want evidence that time is speeding up, that’s one more proof. Riding a skateboard may help you keep up.
Fed Chair Janet Yellen spoke to the Senate Banking Committee this morning, lauding the improving economy in spite of the slowing labor market. While she noted that indicators point to a stronger GDP for the 2nd quarter (ending in nine days), there is a cautious tone overall, with inflation well short of the Fed’s 2.0% goal.
The likelihood that the U.K. will exit the E.U. is slimming, buoying up the price of U.S. stocks and holding down bond prices. But so far, mortgage rates are holding their ground.