Lock Watch for the Week of 7/2/2018

Volatility-O-Meter:

While it may be a holiday week, there are a number of big reports, including employment on Friday. Short staffing at trading desks could heighten bond market volatility.

Economicalendar (all times are Pacific):

• Mon, 7/2:    PMI Manufacturing Index (6:45am), ISM Manufacturing (7am) and Construction Spending (7am). 
• Tues, 7/3:    Factory Orders (7am).  
• Weds, 7/4:   Independence Day.
• Thurs, 7/5:  ADP Employment (5:15am), Jobless Claims (5:30am), ISM Non-Mfg Index (7am). FOMC Minutes (11am).
• Fri, 7/6:    Employment Situation and International Trade (5:30am).

10-Year Treasury History

• 2.85%   Today's Open
• 2.89%   One Week Ago
• 2.94%   One Month Ago
• 2.35%   One Year Ago

The Suit

My grandmother lived on 77th St., between 15th and 16th Ave., in Bensonhurst, Brooklyn. It's about as close to the Saturday Night Fever epicenter as one is going to get without falling off the Verrazano-Narrows. For reference, the opening scene was filmed at 86th and 20th. While the movie itself was terrible, the soundtrack speaks for a genre and, more than anything, Travolta's white polyester suit is timeless.

But there were actually two of them. SNF was no high-budget production and, in fact, the iconic 3-pieces were bought off the peg in a nearby clothing store. Costume designer Patrizia von Bradenstein alternated between the one being sweated out in the dance scenes they were filming and the other drying somewhere on the set.  

As a huge fan of the film, movie critic Gene Siskel bought one of the suits at a charity auction for $2000. Though he could not fit into the size 28 pants himself, Siskel considered the relic to be his most prized possession. Siskel passed away in 1999, but before he did, he sold the suit at a Christie's auction. It later resurfaced in 2012 and now resides in a Hollywood costume exhibit with the Victoria and Albert Museum in London.

Can you dig it? I knew that you could,

Robert J. Spinosa

Vice President of Mortgage Lending

Guaranteed Rate

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*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate. In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate's Human Resources Department.

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