September 2008 Financial Asset Roundup
|Asset||August 2008||September 2008||Change|
|Credit Card 0% Balance Transfers||0||0||0|
|Total Assets||$596,572||$574,427||-$22,145 (3.71%)|
The S&P 500 index has been testing the July lows (down 4.11% since my last update) and could be heading quite a bit lower based on the goings on with Lehman Brothers, Merrill Lynch, and AIG:
(chart courtesy of msn.com)
Oil prices continued to fall to below $96 per barrel this morning on news that hurricane Ike did less damage than expected to the Gulf Coast oil infrastructure. Could $75 oil be possible by the end of the year?
Moneywise, the only thing on my radar screen is what to do with the proceeds from the E-LOAN 5.75% APY 2 year CD I opened two years ago. If the FOMC holds rates steady when they meet tomorrow, we'll hopefully see the 5%+ CD offerings continuing for a while. Hard to say what they'll do though, since I think we've still got a way to go with the mess in the financial markets and additional rate cuts could be on the way. At any rate, it's certainly hard to believe that you could get 6% APY CDs at Penfed one year ago.