SD Capital Funding’s back with another market update!
Earlier this week, the first round of tariffs became official as $34 billion worth of Chinese goods got hit with tariffs. China immediately retaliated with $34 billion worth of tariffs on airplanes, soybeans, pork and electric vehicles. We are now in the middle of an all-out trade war.
Investors don’t like trade wars. Trade wars lead to less trade and higher prices for consumers. As investors look for safer investments, bonds have certainly benefited keeping interest rates at a 6 week low.
On Friday, the government released the June employment numbers. Nonfarm payrolls rose by 213,000 and the unemployment rate is now 4 percent. The Fed, responsible for interest rate policy, watches these numbers closely as it keeps its finger on the pulse of the economy.
The 30 year fixed rate ended the week at 4.54.
Did you know the current 50-star American Flag was designed by a 17-year-old as a school project in 1958? He got a B-!
That’s our market update, we’ll be back in two weeks!