The start of a new week and the US Treasury 10-year yield is up 10 basis points, always a noteworthy change. And with it, the 30-year mortgage rate should climb.
Meanwhile, the political elite party in Washington DC as the US National Debt hit $31.4 TRILLION and unfunded liabilities (the amount that the political elites promised Americans) hit $173 TRILLION for a grand total of … $204 TRILLION.
Since Biden/Pelosi/Schumer are in a lame duck session with Republicans taking the House in January, let’s see if Republicans can halt the insanity in Washington DC.
Be that as it may, Fed Funds Futures are pointing at a 50 basis point rate hike at the December 14th FOMC meeting.
Seriously, how is The Federal Reserve going to cope with $204 TRILLION … and growing Federal debt AND unfunded liabilities?
