Financial Update by Maurice Soussé

Rates are up a touch this week as the European Central Bank raised interest rates Thursday morning acknowledging they need to keep a step ahead of inflation and upward price pressures. You will see the 10 year treasury increase as we did this week and will push mortgage rates up at tad. We aren’t talking large levels; only about an .125% or so across the board.

On the same day the Bank of England and the Bank of Japan left their rates unchanged…….?????Hmmmmmm

If you take a consensus of the trading guru’s on Wall Street, traders feel that the FED most likely will not likely increase rates any time soon. You need a much better labor market before you see inflation rise.

I like the saying by Will Rogers, “Even if you are on the right track, you will get run over if you just sit there”.