Weekly Update:

Happy post-July 4th holiday week!

The hotdog infused lethargy is still lingering. Also, the 90+ degree heat in Michigan has caused a little sunburn to develop. I hope your holiday was a success with all of the traditional events.

Las Vegas was a little untraditional last night as Travis Pastrana recreated Evil Knievel’s three major jumps live on TV. He even landed the one the Evil did not. Pastrana co-founded the Nitro Circus – You have to love the name.

2-year to 10-year spreads narrowed to below 30 basis points. This level of flatness has not been seen since 2007. We call this a flat yield curve.

The media circus has switched its focus to the Trump Supreme Court pick and tariffs; nonstop news that hopefully is hype. In the end, we want decent laws and fair judges. Let’s hope for the best.

The unemployment rate moved up from 3.80% to 4.00% last week as more people entered the workforce. This is good news for the economy.

A flat yield and low yield curve may be tough on your mortgage team. Contact your advisor to discuss options to ensure long-term success.

Have a great week.

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