01/02/2024
Good morning All and Happy New Year!
Below is the January 2nd bond report.
Bond pricing is worse this morning as treasury yields move higher. The U.S. 10 Year Treasury yield is currently 3.918%, up from the open at 3.899%. 2023 was filled with interest rate hikes, persistent inflation, recession fears and market shocks like the regional banking crisis as well as geopolitical concerns as wars broke out in Russia, Ukraine and Israel. Investors are hopeful as 2024 kicks off however, rates could remain higher than desired as the Fed continues its monetary policy approach. Jobs data will take the stage this week with several releases that will show the current health of the jobs market. The S&P Manufacturing PMI fell to its lowest point in four months last month as deterioration in operating conditions continued alongside shrinkage in output and new orders. Mortgage rates will likely print higher this morning all else constant.
Remember, if you know anyone how is looking buy, sell or refi I would love to chat with them and help them with a plan to improve their situation.
