The bond market has collapsed and yields change continuously, it has inverted several times, and the 2yr and 10yr are very close.
Some say we’re already in a recession and others say probably next year. My opinion is the FED needs to concentrate on inflation, that’s their mandate.
CNBC ^ | 6-14-22 | Diana Olick
Posted on 6/15/2022, 9:54:36 PM by dynachrome
Real estate firms Redfin and Compass are laying off workers, as mortgage rates rise sharply and home sales drop.
In filings with the Securities and Exchange Commission, Compass announced a 10% cut to its workforce, and Redfin announced an 8% cut.
Shares of both companies fell Tuesday. Redfin’s stock touched a new 52-week low.
Mortgage demand has fallen to its lowest level in over two decades. Rates have taken off since the start of this year, rising from 3.29% in early January to 6.28% now, according to Mortgage News Daily. Rates shot up more than half a percentage point in just the past three days, as concerns over inflation hit the bond market.
Rising rates and overheated home prices, which are now up over 20% from a year ago according to various surveys, have crushed affordability. Home sales have been dropping for several straight months, and the fall is expected to worsen....
https://freerepublic.com/focus/f-chat/4071430/posts
~~~~~~
On a side note.....I just checked home sales prices, in my sister's area....one of the fastest growing areas, in TX.....to see if prices were being cut.
ALL of the new homes/new construction listings have had reductions, in the past week.
These are homes that would typically sell the day they were listed, by the builder, on MLS.
Homes are still selling (are under contract), but....prices on ones that haven't sold, are being cut.
Noah’s Nightly Newsletter – 6/15/22
https://truthlion.com/noahs-nightly-newsletter-6-15-22/
* Is This President Trump’s New VP Pick?
* Heat Stress Reportedly Kills 10,000 Cattle in Kansas; Could There be Another Cause?
* Trump-Endorsed Adam Laxalt Wins Nevada GOP Senate Primary
* Biden Comes Unhinged While Responding to Reckless Spending Accusation, Yells “We’re Changing People’s Lives!”
* Twitter Deletes Dr. Zelenko’s Account While On His Deathbed
* CaptainDeplorable: President Trump Orders His Big, Beautiful Birthday Dinner!
* Sheriff Warns NOT To Pick Up Dollar Bills
* Kash Patel Explains Trump’s Quote: “We Caught Them All!”
I thought when interest rates are going up, bonds go down and stocks go up. Sounds like everything is falling now.
I thought when interest rates are going up, bonds go down and stocks go up. Sounds like everything is falling now.