Good morning and welcome to the weekend! We’re done with scheduled housing news for the week, but we went out in style after that phenomenal +7.0% Existing Home Sales number yesterday! This was the best Existing Home Sales result since September 2020. It was even more remarkable considering housing supply has been so compromised this year.
The following is a story you’ll probably get from several sources this morning. In an effort to get out in front of the Jerome Powell (and others) insider trading scandal, the Fed has outlawed stock trading and limited other investment activities for their top officials. The Fed couldn’t have picked a worse time to get caught sticking their hands in the cookie jar, as they’re right in the middle of trying to help sell a new monetary system to a country that’s hardly in the mood to buy it. Has the “private” Central Bank ever been audited, by the way?
Bonds today are up, with the 10yr T-Notes +15/32 to yield 1.65%. FNMA 30yr MBS 2.50%’s are -6/32 to $102-07, which yields 2.01% and is +77 to the treasury curve. MBS and loan questions are our specialty, shoot us an email or call us and let us answer them!
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Jim Tait is a registered representative with and offers securities through Hanover Securities, Inc. (Hanover), Member FINRA & SIPC. Although this information has been obtained from sources we believe reliable, we do not guarantee its accuracy, and it may be incomplete or condensed. This is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. Securities that may be shown are subject to availability and changes in price. Past performance is not indicative of future results. Changes in any assumptions may have a material effect on projected results.
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Although this information has been obtained from sources we believe reliable, we do not guarantee its accuracy, and it may be incomplete or condensed. This is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. Loans and/or Securities which may be shown are subject to availability and changes in price. Past performance is not indicative of future results. Changes in any assumptions may have a material effect on projected results. This information from Banes Capital Group (BCG) and/or Hanover Securities is for your private use, and was obtained from sources we believe to be reliable. However, we do not represent that this information is accurate or complete, and it should not be relied on as such. This information is for institutional investors only, and as such certain transactions may give rise to substantial risk and are not suitable for all investors. This information was based on current market indicators which may vary over time. We may from time to time buy or sell, or have long or short positions in loans or securities identical or related to those identified herein.
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