Last week’s strange jobs report (massive discrepancy between the Establishment and Household data) did push expectations of further Fed rate hikes up. In fact, the US Treasury 10-year yield is up 10 basis points this morning.
The US Treasury 10Y-3M yield curve remains inverted at -106 basis points while the implied Fed rate hike for the June 2023 FOMC meeting jumps to over 5%.
Mortgage rates? Likely to rise.
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