US Treasuries
- Tuesday’s UST 10y range: 4.28% – 4.36%, closing at 4.29%
Upcoming US Treasury Supply
- $25 billion 30yr Bond auction tomorrow: Wednesday, 11/06/2024
Conference Call Friday, November 8th, featuring Jim Bianco
Arbor Data Science: The Zombies Have Survived by Sam Rines
Jim Bianco joins Fox Business to discuss Market Volatility, Election Proxies & Betting Markets
Intraday Commentary from Jim Bianco
Why is the Fed cutting on Thursday?
*US OCT. ISM SERVICES PMI RISES TO 56 VS. 54.9; EST. 53.8
Speaking of the long end … a three-day tick chart of the 10-year yield.
Approaching Friday’s yield high (which was the highest since July).
In Other News…
Arbor Data Science: The Number of Occupied Housing Units is On the Rise
MortgagePoint: Catch-22: When You Have Millions Of Vacant Homes But Also a Housing Shortage
In wake of the Fed’s recent rate cut last month, hesitant Americans are becoming open to the idea of entering the market to begin their homebuying journey. However, people actually need homes to do so. There is a concerning housing shortage in the U.S., and while one of the primary drivers of today’s high housing costs—although it’s not always the case—is an overall lack of housing supply.
Another Port Strike Impacting Supply Chains…
Key ports on Canada’s West Coast, including its largest container port in Vancouver and the Port of Prince Rupert, were shut down by a labor strike on Monday.
Upcoming Economic Releases & Fed Speak
- 11/06/2024 at 7:00am EST: MBA Mortgage Applications
- 11/06/2024 at 9:45am EST: S&P Global US Services PMI & S&P Global US Composite PMI
- 11/07/2024 at 8:30am EST: Nonfarm Productivity & Unit Labor Costs
- 11/07/2024 at 8:30am EST: Initial Jobless Claims & Continuing Claims
- 11/07/2024 at 10:00am EST: Wholesale Trade Sales MoM & Wholesale Inventories MoM
- 11/07/2024 at 2:00pm EST: FOMC Rate Decision
- 11/07/2024 at 2:00pm EST: Fed Interest on Reserve Balances Rate
- 11/07/2024 at 3:00pm EST: Consumer Credit
- 11/08/2024 at 10:00am EST: U. of Mich. Sentiment/Current Conditions/Expectations
- 11/08/2024 at 10:00am EST: U. of Mich. 1 Yr Inflation & U. of Mich. 5-10 Yr Inflation
- 11/08/2024 at 11:00am EST: Bowman Speaks on Banking Topics
- 11/08/2024 at 2:30pm EST: Musalem Gives Pre-Recorded Welcome Remarks
- 11/12/2024 at 6:00am EST: NFIB Small Business Optimism
- 11/12/2024 at 11:00am EST: NY Fed 1-Yr Inflation Expectations
- 11/12/2024 at 2:00pm EST: Senior Loan Officer opinion Survey on Bank Lending Practices
- 11/12/2024 at 5:00pm EST: Harker Speaks on Fintech, AI