"Yield Spike: Impact on Mortgage Rates, Stocks, and Inflation"
TL;DR
Treasury yields spiked, with the 3-year yield jumping 25 basis points to 4.77%, and the 10-year Treasury notes were sold at a yield of 4.56%, up by 21 basis points from before the CPI report. The 10-year yield rose by 19 basis points to 4.55%, the highest since mid-November, reflecting a shift in longer-term inflation scenarios. Additionally, the average 30-year fixed mortgage rate spiked to 7.34%, the highest since November 20, causing potential buyers to hesitate and potential sellers to reminisce about lower rates in 2022.
Topics:businessfinance#bond-market#cpi-inflation#finance#mortgage-rates#rate-cut-mania#treasury-yields
- Treasury Yields Spike, 3-Year by 25 Basis Points. Mortgage Rates Hit 7.34%. Services Inflation Smacks Down Rate-Cut Mania WOLF STREET
- The 2-Year Treasury Yield Is Scary. How It Weighs on Stocks. Barron's
- Bond Traders Are Preparing for a 5% Yield, No-Rate-Cut World Bloomberg
- 10-year yield could test 5.3%, says NewEdge Wealth's Ben Emons CNBC
- U.S. Dollar, SPX, Nasdaq Technical Forecast: Yields Spike After CPI - What's Next? FOREX.com US
Want the full story? Read the original reporting
Read on WOLF STREET