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August 21st Rate Update
August 21, 2024 | Posted by: Paul London
Bond pricing and treasury yields continue to hold steady in early trading. The U.S. 10 Year Treasury Yield slid lower into the close yesterday with light economic news. The latest Fed minutes will be released today at 2pmET. Tomorrow is the busiest release day of the week with initial jobless claims which has been trending toward improvement in recent weeks, S7P services and manufacturing PMIs and Exisiting Home Sales. Aside from economic releases, Investors are hopeful that Powell will provide additional new hints on the Fed's approach on Friday as he speaks at 10amET. His commentary could shed new light on the Fed's approach as their September meeting comes closer and the market anticipates the first rate cut. Mortgages will likely print flat but have slight upward bias this morning all else constant.
TLDR: Costs of Rates are Down a bit!
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