It is the start to a trading week after yesterday’s pause for President’s Day. And with a new start, we see the US Treasury 10-year yield jump 8.5 basis points to 3.9%. Bankrate’s 30-year mortgage rate is up to 6.83% and the implied Fed Funds Target rate at the June 2023 Fed Open Market Committee meeting is now 5.23%.
Prince Imhoptep (aka, the Minneapolis Fed’s Neel Kashkari) thinks that The Fed will keep raising their target rate to slow down the economy and help The Fed’s green agenda.
