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Before The Ham And Eggnog
It's the week before Christmas. The macro-policy docket isn't exactly sparse, but interest and engagement with economic releases and market events will be limited by their proximity to the highest of Western holidays.
If you're making a list (and checking it twice), the Bank of Japan is at the top of it. Earlier this month, remarks from Kazuo Ueda and, more importantly, a speech by deputy Ryozo Himino, fanned speculation that the bank is planning a possibly imminent exit from negative rates. "I
I’m pretty sure those who follow the right wing “media” prefer their ham and eggnog on the extreme bitter side…
H, et al., I watched 12 Angry Men, enjoyed it (and the old actors) thoroughly, it’s definitely stood the test of time well given its 1957 origin… now back to streaming Elf 24/7…cheers, and holiday well wishes to all…
12 Angry Men one of the all time greats, it doesn’t get old.
I once created a one off seminar for a group of honor students based entirely on a group of movies illustrating various key points of management and group behavior. High on the list were “Twelve Angry Men” and “12 O’Clock High.” I also included “Tin Men,” “Big Kahuna,” “Glengary, Glen Ross,” “Other Peoples Money,” “The Man in he Grey Flannel Suit,” and several others. None of them get old.
It wasn’t until this year that I decided to try egg nog and realized I was missing out. It always sounded gross to me, but after trying it for the first time, I plan to make my own batch to enjoy this year. If anyone has any good recipes, send them my way!
As for the housing market and mortgage rates, I expert fireworks once we get in the 5% range. My inclination is that we’ll see the everything rally make its way back into the housing market once that happens, but part of me thinks I might end up underestimating the supply that might hit the market once homeowners see an opportunity to make a long awaited move. Then again, those sellers also become buyers which makes me think we will see some big gains in housing prices as the sellers roll over their recent equity gains.
If I had to place a bet, I’d say it’s more likely we see another major move up in housing prices once rates go back to 5%, which I expect will happen in 2024.