Treasury yields are slightly higher across the curve as selling pressure overnight has been largely offset by dip buyers. The belly of the curve continues to be the worst performer as markets speculate that the Fed will have to be more aggressive to combat inflation pressures. Futures and forward rates are now pricing five 25 basis point rate hikes by the middle of 2023 with the first hike coming next summer. In real estate news, the National Association of Realtors reported that home sales between July 2020 and June 2021 sat on the market for a median period of only one week before going under contract, down from three weeks a year earlier and a new low since records began in 1989.
Chief Investment Officer
|11/12/2021||Bloomberg Nov. United States Economic Survey|
|11/12/2021||JOLTS Job Openings||10300k||—||10439k||—|
|11/12/2021||U. of Mich. Sentiment||72.5||—||71.7||—|
|11/12/2021||U. of Mich. Current Conditions||77.2||—||77.7||—|
|11/12/2021||U. of Mich. Expectations||68.8||—||67.9||—|
|11/12/2021||U. of Mich. 1 Yr Inflation||4.90%||—||4.80%||—|
|11/12/2021||U. of Mich. 5-10 Yr Inflation||—||—||2.90%||—|
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