30 year treasury rate

- A + A NEW YORK (June 25): The US dollar slipped on Friday (June 24) and posted its first weekly decline this month as traders pared back bets on where interest rates may peak and brought forward their outlook on the timing of rate cuts to counter a possible recession. A significant factor this week has been the fall in oil and commodity prices, which has eased inflation fears and allowed equity markets to rebound. This has eroded the safe-haven bid that has been boosting the dollar against major currencies. "Falling commodity prices could help pull headline inflation prints downwards — particularly into the autumn months — reducing the need for aggressive monetary tightening," said Karl Schamotta, the chief market strategist of payments company Corpay in Toronto. US federal funds futures on Friday priced in a 73% probability of a 75-basis-point (bps) increase in the July meeting. But for September, the market has fully factored in just a 50bps rise. The market … [Read more...] about US dollar retreats as markets reassess Fed rate path

(CNN) The record run-up in home prices and rents exacerbated the affordable housing crisis in the US, and rising interest rates stand to make it even worse, according to Harvard University's annual State of the Nation's Housing Report released Wednesday. Although quickly rising mortgage rates are already appearing to cool overheated housing markets, they are putting the homeownership dreams of millions of Americans even further out of reach, researchers and housing industry experts said. These renters were hit hardest by the pandemic and they're still struggling The income needed to qualify for a home has skyrocketed: The mortgage, property tax and insurance payments for a median-priced home of $340,700 cost $700 more per month in April 2022 than they did a year before. And the annual income needed to qualify for such a home is $28,000 higher in April 2022 versus last year, according to Harvard's Joint Center for Housing Studies, which analyzed data from … [Read more...] about The dream of owning a home is out of reach for 4 million Americans

Representative Image Dollar-rupee onshore forward premiums have seen a steady fall of late and the market has seen heightened volatility. The one-year onshore forward premium narrowed to 220 paise on June 22, its lowest level since December 2011. Currently, the one-year premium is at 244 paise compared to 356 paise at the start of this year. In the last two weeks, this has dropped by as much as 60 paise. Assessing the impact of falling forward premiums on the outlook for the rupee is important, especially against the backdrop of persistent foreign outflows, a widening trade deficit and soaring price pressures. The rupee closed at a record low of 78.3862 on June 22 and is down over 5 percent against the dollar so far this year. Also read: RBI present in forex market, will not allow jerky moves in rupee, says Deputy Governor Patra First, what are forward points? Close The forward point is the interest rate differential between two countries. These … [Read more...] about Explained | Why are dollar-rupee onshore forward premiums falling? Five key questions answered

- A + A NEW YORK (June 23): Major US stock indexes ended down slightly Wednesday, losingearly gains tied to remarks by Federal Reserve Chair Jerome Powell that the US central bank is "strongly committed" to bringing down inflation, while sharply lower oil prices weighed on energy shares. The S&P 500 energy sector was down 4.2%. The dollar fell alongside US Treasury yields on fears the US economy could slip into recession after Powell, in testimony to the US Senate Banking Committee, said higher rates are painful but are the means the US central bank has to slow inflation. "Like all Fed commentary, there are positives and negatives, but the overall message is the Fed is not backing away from rate hikes," said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York. The Fed recently raised its benchmark overnight interest rate by three-quarters of a percentage point, its biggest hike since 1994. The Dow Jones Industrial Average fell … [Read more...] about US stocks end down slightly after early boost from Powell; oil falls

Share to Twitter Share to Linkedin Topline A White House economic adviser, Heather Boushey, on Tuesday said she is “optimistic” the U.S. economy will not fall into a recession, joining a chorus of Biden Administration officials who pushed back against the contention that an economic downturn is inevitable. Key Facts Speaking at an event hosted by the Washington Post , Boushey said she believes there will not be a scenario “that will lead to the kinds of scarring of American families that we really don't want to see.” Boushey pointed to the country’s low unemployment rate, strong household balance sheets, and robustness in the face of the pandemic as the reasons behind her optimism. In an interview on Sunday, President Joe Biden insisted a recession was not “inevitable,” also pointing to the country’s low unemployment numbers as he urged people to not simply believe “a warning” about an impending downturn. The president also … [Read more...] about Here’s Why Biden Administration Officials Think A Recession Can Be Avoided