Published Date 11/8/2024
Yesterday Powell and the Fed lowered the FF rate by 25 bps as was widely anticipated. It is six weeks before the next FOMC meeting (December 18th) the chatter about another rate cut from the Fed already circulating; some think so, others not so much but it is a long way to Tipperary. CMC FedWatch, a 67% chance of another quarter-point cut in December and a 33% chance of a pause that month.
At 9:30 am the DJIA opened +108, NASDAQ -10, S&P +8. 10 year at 9:30 am 4.31% -3 bp. FNMA 6.0 30 year coupon at 9:30 am +6 bps from yesterday’s close and +19 bp from 9:30 am yesterday.
The only data today, the University of Michigan mid-month consumer sentiment index expected at 70.8 from 70.5 in October, the index jumped to 73.0.
It may not feel like it after the volatility this week but this week yields declined for the first time in four weeks. Next week inflation data from CPI and PPI and Treasury’s October budget statement, October retail sales and October import and export prices.
Today is shaping up to be quiet after the very volatile week. There is still a pall hanging over markets although that initial fear of screaming inflation has dissipated and with the rate cut yesterday and some belief another one will happen in December the panic has lessened.
Source: TBWS
All information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.
NMLS: 258527
Mortgage Goat LLC
130 N Preston rd #318, Prosper TX 75078
Company NMLS: 258527 /133739
Office: 469-628-4544
Cell: 469-628-4544
Email: jc@themortgagegoat.net
NMLS: 258527
Cell: 469-628-4544
12/9/2024
These are the three areas that have the greatest ability to impact rates this we... view more
12/9/2024
This week is focused on inflation data, released on Wednesday and Thursday...... view more
12/6/2024
You’re at work all day. But because of notifications you’ve received...... view more
12/6/2024
November NFP jobs better than forecasts, +227K against 211K estimates. Private j... view more
12/5/2024
“Garage door dominant.” If there was ever a label you could place on the America... view more
12/5/2024
October Trade Balance (Deficit) was $-73.8B versus…... view more
12/4/2024
So, if you’re looking for an easy way to make your home warm and inviting...... view more
12/4/2024
November ADP private jobs were thought to be…... view more