As of 6/29/2023 –

Looks like rates are going higher even after the Feds made no change to their overnight rate for June and here’s why the bond market is driving rates higher …

  • The 3rd revision of Q1 GDP (Gross Domestic Product) is 2% up from the prior revision of 1.3%
  • For June consumer confidence increased to the highest level since January 2022
  • Housing is strong with a significant portion of these being cash sales and sales being down 39% YTD
  • Labor Market continues to gain strength with jobless claims last week fell my the most since October 2021

We still have a long ways to go to get inflation down to 2% and because of this, the Feds were talking last week about 2 or more rate hikes before the end of the year.

image001

Posted in Uncategorized