Bidenomics Mortgage Market! Mortgage Rates Now 7.2%, UP 159% Under Maui Joe! (10Y-2Y Yield Curve Collapsed From +100 BPS To -63 BPS)

confoundedinterest17 #bubble, #inflation, #wine, @MetreSteven @JeffSnider_AIP @DiMartinoBooth @bondstrategist @RaoulGMI @LukeGromen @dlacalle_IA @EconguyRosie @profplum99 @SantiagoAuFund @biancoresearch @pboockvar @SriKGlobal, Agency MBS, Bank of England, Bank of Japan, Banking, Economy, Existing Home Sales, GDP, Gold, GSE, Housing, Inflation, Mortgage, Natural Gas, New Home Sales, Oil, Powell, REITs, Silver, SPX, Stocks, Treasuries, Treasury, TYVIX, Uncategorized, Wages, Yellen, Yield Curve August 22, 2023 1 Minute

Maui Joe Biden received a lot of help from his friends at The Federal Reserve!

Thanks to the crippling effects of Bidenomics (Fed easing then tightening to combat inflation caused by insane green spending and a war in Ukraine), US mortgage rates (conforming 30-year) has increased 159%.

On the yield curve side, the US Treasury curve 10Y-2Y CMT fell from 99 basis points the day after Maui Joe was sworn-in as El Presidente to the inverted curve we see today (-63 basis points).

Dynamic Maui Joe looking less than happy trying to visit Maui while he could be partying with mega-donor Tom Steyer (a big green energy con artist).

At least Biden didn’t wear his aviator sunglasses or down an ice cream in a show of “empathy.” But, of course, he did find time to assault a child! Watch the hands Maui Joe!!!!