16 Nov Still cautiously floating
Investors are torn between watching the first meeting that President Obama and congressional leaders are having, and facing the reality that the “twinkie” will become a thing of the past. Hostess has been unable to weather its 2nd bankruptcy in a decade and has announced that they will promptly liquidate and layoff 19,000 workers. Hostess said the dispute between the struggling company and a union strike was more than it could handle. As much as we will miss them, let’s hope the government does endorse twinkies as entitlements and bailout another sinking ship with tax dollars. mortgage bonds are moving higher as pressure remains on stocks, so we will continue with a cautious floating bias as interest rates creep slightly lower.