AgentIndustry News

Fed poised to hike key funds rate

Payroll report arrives next week

The real estate event of the summer
Connect with other top producing agents at Connect SF, Aug 7-11, 2017

Most of a bond-market fright has passed, and long-term rates are back to the low end of a range that has held since last July: low-fee mortgages are 5.625 percent and the 10-year T-note is 4.13 percent. Long Treasurys had traded 4.22 percent in anticipation of all the things that could go wrong next week. On Wednesday the Fed will hike another quarter-point to 2.5 percent, but hints at its future intentions in the companion statement are the scary part. Next Friday will bring news of January payrolls, each month's single most-powerful bond-market-moving datum, each defying all attempts at forecast. Then there's the Iraq election, the State of the Union and congressional reaction – in sum, enough to make sensible traders get under their desks and stay there. Offsetting all that this morning: 4th quarter '04 GDP rose only 3.1 percent, almost a point under forecast (the United States bought foreign production, not its own). Also in the report: the best measure of inflation, the cor...