Bonds Rule

Finding value is always a challenge Equities keep climbing all sorts of negative news both economic and geopolitical. Hard to chase stocks here. Nothing looks cheap.

Except Treasuries With 6 month bills trading close to 5.5% we can afford to wait. While long term housing municipals are trading in the 4.5% to 4.75 %. Short term bills look more attractive

Friday we bought a structured note backed by Barclays 10% yld. Coupon barrier -30% and principal barrier -40%. 3 yr Nc 6

Fed is looking at more hikes even though Europe and China are having significant growth slowdowns. With this uncertainty we will stick with Treasuries