“YOUTH IS WHEN YOU’RE ALLOWED TO STAY UP LATE ON NEW YEAR’S EVE. MIDDLE AGE IS WHEN YOU’RE FORCED TO.” Bill Vaughn
And battle weary Traders may be looking to hang it up early for the night, after enduring days and weeks on end of extreme market volatility. And last week was no exception, as the assassination of former Pakistani Prime Minister and current opposition leader Benazir Bhutto brought on even more volatile moves in the markets.
There is global concern over the possibility that the Pakistani government may become destabilized – and if this should happen, which political faction may end up in power with control over its nuclear arsenal. This is a very good example of how unforeseen political events from around the world can impact home loan rates, as Bonds trade in response to the headlines. Following the assassination, Bond prices moved higher upon the increased demand for the “safe haven” found in Bonds, and home loan rates improved by about .125% for the week overall.
BRING THE CHAMPAGNE…AND THESE FASCINATING BITS OF NEW YEARS TRIVIA…TO YOUR HOLIDAY CELEBRATIONS, AND MOST IMPORTANTLY – WE WISH YOU AND YOURS A VERY HAPPY AND HEALTHY 2008!