Professional Documents
Culture Documents
The biggest economic data release is Fridays GDP, which is forecasted at just 0.2%. That is
dangerously close to negative territory. This obviously comes after Wednesdays FOMC
statement, but if the FOMC gets a first look at the data it could find its way into the statement.
Expect another volatile week for interest rates as Fed Funds futures take cues from stocks/oil.
Ice storms may not be conducive to office work, but they can teach an old dog like me the meaning of
the phrase binge-watching. I wish I could say I watched Making a Murderer over the course of two
weeks, but with everything canceled this weekend I couldnt turn the darn thing off on Saturday. Kids,
make yourself lunch because Im busy figuring out if this guy was framed.
On a technical note, we have revamped our website to start 2016. This wasnt your typical lets put
lipstick on a pig kind of change. We fundamentally changed the intent of the website
(www.pensfordfinancial.com). Our landing page is now comprised of Treasury yields, swap rates, caps,
LIBOR, current forward curve, and economic releases for the week.
If you are reading this newsletter, you already know who Pensford is and what we are about so we
decided to change our format. We thought it would make sense to make it easier for you to access this
market information, rather than the typical website fluff that you dont need.
Our rate feeds update every 15 minutes, while the caps and forward curves are updated once a week.
All the usual caveats that these are meant to provide good estimates, not precise live levels for your
customized structure so dont trade off these numbers! But if you just need a quick look at where
things stand, we want Pensford to be your starting point.
We also worked hard to make it mobile-friendly. I am on the road constantly and wanted a spot where I
could easily check rates between meetings. I suspect many of you can relate to that. I saved the
website as a bookmark on my phone so that I can check rate movements quickly as I am running around.
We also tried to make our calculators easier to use. For a few years now we have had three calculators:
1. Defeasance 2. Refinance Analysis and 3. Yield maintenance. They were, admittedly, a bit tough to find
on the website and most clients didnt realize we had them. We have tried to make it easier for you to
access those and quickly get the information you need.
We want to be your go-to source for interest rates. We hope the new website will give you one place to
find that information quickly and easily. And with about 1,900 Pensford newsletter subscribers, you are
all beta testers. If you have suggestions or comments, send them over so we can make this format work
best for the people that need it the most.
Generally, this material is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an
official confirmation of any transaction. Your receipt of this material does not create a client relationship with us and we are not acting as fiduciary or advisory
capacity to you by providing the information herein. All market prices, data and other information are not warranted as to completeness or accuracy and are subject
to change without notice. This material may contain information that is privileged, confidential, legally privileged, and/or exempt from disclosure under applicable
law. Though the information herein may discuss certain legal and tax aspects of financial instruments, Pensford Financial Group, LLC does not provide legal or tax
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