Markets shrugged off geopolitics, politics and ports to finish higher, despite Tesla finishing lower after missing on quarterly sales. Bond yields moved higher as well with the 10Y closing at 3.79% and the 2Y at 3.65% after a solid ADP report and a lack of response from Israel yet was enough to quell the fears of yesterday. In money markets repo markets seemed tight with SOFR continuing to rise, printing 5.05%, above the upper band of Fed Funds target.
After writing about Japan's Ishiba's hawkishness yesterday he quickly turned around and said Japan is currently in no environment to raise rates further.
As we get jobless claims today, a question going forward will be what impact does the Hurricane and port strikes have on the data going forward.
XTOD: Old enough to know when they told us SOFR was gonna be awesome….. coz u know it wasn’t LIBOR & all….Uhm…. $2.5 Trillion traded yesterday at 5.02% at the 75th percentile. This is well outside IORB. This is NOT Normal.
XTOD: Congrats on hitting your Q3 numbers. Here is an even bigger Q4 number that you will be fired if you don't hit, you fucking moron
XTOD: OpenAI says it has closed its new funding round raising over $6.5 billion at a $157 billion valuation.
XTOD: Successful investing is investing that lets you sleep peacefully at night. Success is not about who makes the highest returns or who makes the most money. It is about achieving our financial goals in a timely manner with the lowest possible risk.
XTOD: “Money doesn't change men—it merely unmasks them. If a man is naturally selfish or arrogant or greedy, the money brings that out.” ― Henry Ford
https://x.com/gamesblazer06/status/1841093911810621895
https://x.com/WorkRetireDie/status/1840894360164212921
https://x.com/shiringhaffary/status/1841525770390544574
https://x.com/joyofcompoundin/status/1841093909079846969
https://x.com/InvestingCanons/status/1841464092613058714
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