Fixed-income Update! REAL 10Y Yield Climbs To Near 2%, Mortgage Rate Climbs To 7.62%, Home Purchase Mortgage Apps Decline To 1995 Levels, 2Y Treasury Yield Breaches 2%, UST 10Y-2Y Yield Curve Remains Inverted (Wasting Away Again In Bidenomicsville)

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As the late crooner Jimmy Buffet sang, the US economy is wasting away in Bidenomicsville, looking for our lost economy for the middle class and low wage worker.

As Bidenomics fails to do anything other than make big donors wealthier (green energy companies, big tech and union bosses, etc), we are seeing the impacts of Fed monetary tightening to combat inflation caused by Biden/Pelosi/Schumer’s spending spree.

First, the 10-year REAL Treasury yield is close to breaching 2%.

Second, 30-year mortgage rates are now 7.62%, up over 150% under Bidenomics.

Third, mortgage purchase applications crashed to the lowest level since 1995.

Fourth, the 2-year Treasury yield just breached 5%.

Fifth, the 10Y-2Y yield curve remains deeply inverted.

Published by confoundedinterest17

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