AS NCUA HAS PREDICTED INTEREST RATES CONTINUE TO SOAR:
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| Up they go !!! |
The 5-yr. T-Bill:
Jan. 15, 2014 1.62%
Feb. 15, 2014 1.53%
Mar. 15, 2014 1.57%
Apr. 15, 2014 1.62%
May 15, 2014 1.53%
June 15, 2014 1.70%
July 15, 2014 1.69%
Aug. 15, 2014 1.54%
Sep. 15, 2014 1.79%
Oct. 15, 2014 1.31%
As Gregg Stockdale has so appropriately pointed out about the NCUA economic videos... ("archived foolishness")... "NCUA just keeps crying wolf"! Actually,...
... think Gregg meant "Worth" not "wolf", but who knows ???
Probably doesn't matter much, since few are watching; and those who do, don't take it too seriously...
O-O-O-W-W-W-O-O-O !!!!
Jan. 15, 2014 1.62%
Feb. 15, 2014 1.53%
Mar. 15, 2014 1.57%
Apr. 15, 2014 1.62%
May 15, 2014 1.53%
June 15, 2014 1.70%
July 15, 2014 1.69%
Aug. 15, 2014 1.54%
Sep. 15, 2014 1.79%
Oct. 15, 2014 1.31%
As Gregg Stockdale has so appropriately pointed out about the NCUA economic videos... ("archived foolishness")... "NCUA just keeps crying wolf"! Actually,...
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| John D. Wolf, Economist |
... think Gregg meant "Worth" not "wolf", but who knows ???
Probably doesn't matter much, since few are watching; and those who do, don't take it too seriously...
O-O-O-W-W-W-O-O-O !!!!
4 comments:
If they keep predicting that rates will rise, they is a reasonable probability that one day their prediction will come true. My sincerest wish is that we live long enough to see their prediction come true!
Aside from the fact the he keeps getting it wrong, NCUA does not need an economist. Several other federally agencies, including Federal Reserve,can provide NCUA with all the forecasts a REGULATOR needs.
For the past several years the Fed has been telling us to expect low rates. Since at least March 2011, NCUA has predicted eminent higher rates. Staying too short on investments continues to cost the industry Million$ in missed investment income.
When the inevitable rise in rates comes and NCUA say we told you so, remember even a blind squirrel finds an acorn now and then.
PS - CUNA and NAFCU don't need economists either.
Jim, You must be desperate for ideas if you have to resort to quoting me! Those updates are on YouTube and you can comment on them there (not on NCUA's site). I thought I'd get a response, but apparently even NCUA doesn't read their own posts. They posed another economic update on October 1. Amazingly, not even a hint that there may be a rates down scenario anywhere on the horizon. Perhaps in December they will acknowledge a global slowing of the economy. Unfortunately it will be too late for those cu's forced to sell good bonds in order to "be ready". Their advise is Worth Less as time goes on.
Jim - January, 2014 the 10 yr Tresy was at 2.98% today it is at approx 2.20% Once again the NCUA is getting crazy about rates up 300bps. Maybe they should get rational and worry more about deflation and rates down 300bps. At what cost have credit unions left money on the table going "short" because the NCUA is blocking credit unions from going "long?" IRR never killed a credit union. Even the corporate wipe out was due to credit risk of wothless private label MBS & CMO's. Here again the NCUA has MISPACED Priorities.
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