The 10-year yield actually moved up a bit over last week. Some possible factors influencing the upward trend were Irma’s relatively benign losses, the perception of improved US economic health, and the expectation of rate increases in both the US and the UK. In the graphs below, the downward trend channels (for both the US 10-year and the German 10-year yields) saw a upward break through the top channel lines. For now, it appears that the bond markets feel a bit more stable than just a week prior.
Being Worthy of Referrals:
I had an experience last week with a VOIP provider. Let’s just say it was less than optimal. And, of course, I then thought about how each of us are perceived when we do our jobs. So, circling back to the provider, this person was very nice. However, they took about 4 times the time necessary to get the job done. They did not seem to remember what we had already covered in a previous call, they needed to cut a call off in the middle as they had already been working overtime, and their software (not their fault) was horrible. Other than that, I would be happy to recommend them to others. Note that was pure sarcasm!
We all have days when we are less than perfect at what we do. Yet, the client experience is unique to each and every person we come in contact with. I will speak for myself here; and I can be rather demanding or intense when it comes to what I expect from a business partner (trust that I put that same demand on myself with interest). Keeping this simple, if my business partners are great at what they do and respect everyone’s time, then they are typically ahead of the competition. They are worthy of referrals and introductions.
In contrast, if someone takes an inordinate amount of time to do their job (and now affects my workflow), then I am going to seek upgrades from them. This is why is it is so important to respect the time and efforts of our virtual partners. These are the folks that interact with us and know what it is like to work with us. They are an extension of our ultimate clients. And, none of them should accept mediocrity. If they do, then when they recommend a business partner to a client, then it will reflect poorly on their reputation.
Okay, I think I beat this dead horse enough. The point should be clear. Be really good at what you do, respect the time of others, and do what you can to stand above others in your field.
That is it for this week. As always, I welcome any of your strategic financing questions.
Articles of Interest:
Forbes reported “There Will Be More Retail Stores Opening Than Closing In 2017.” The article has lots more to share than just the headline. It is very good to see some of the trends in the retail sector.
The SJ Mercury News reported “Now this is ridiculous: $782,000 over asking for a house in Sunnyvale.”
MarketWatch reported “Why the bond market isn’t freaking out from the Fed’s shift to quantitative tightening.”
NREI reported “What Can Texas CRE Owners Expect as the Insurance Claims Process Gets Underway?” For future catastrophe planning purposes, this article will help CRE Owners better understand the potential issues.
The Registry reported “Google to Spend Additional $245.5MM on Three Sunnyvale Properties.”
See the table below for approximate interest rates.
| Type | Rate | Fixed Term |
| Apartments | 3.525% – 4.310% | 3 to 10 year (30 yr amortization) |
| Commercial | 3.845% – 4.610% | 3 to 10 year (25 yr amortization) |
| Construction | Call for Rate | Call for Rate |