Mortgage Rates Spike

Bond Market Spikes

The bond market made a miscalculation last Wednesday when Federal Reserve Chair Jerome Powell discussed the inflation outlook in the United States. Market participants initially misread Powell's subdued posture and tone as a sign of an imminent policy pivot, but the positive jobs report on Friday highlighted the lack of easing measures this year. Recent data has reemphasized what Powell had said all along - that an overabundance of labor supply is continuing to feed into core services inflation ex-housing. As investors now realize the Federal Reserve's current stance on interest rates, long-term yields are dropping. Don't get caught off guard; stay up to date with the latest economic updates to make sure you're making informed decisions.

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