Keyword: rates
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US Treasury yields are up today along with 30-year mortgage rates. There is a lot happening in bond markets. It’s been a tumultuous week for yields, with the Bank of Japan’s policy tweak, and the Treasury increasing its funding needs. But Fitch was the weatherman with its US downgrade, telling us about the downpour we can see for ourselves just by taking a glance at the fiscal data. In short, the US faces a perfect storm of a vertiginous fiscal deficit, a near-historically swollen debt load, ballooning interest-rate costs and collapsing tax revenues. First, the deficit. It’s close to historical...
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I can not even begin to explain the complete outrage and livid anger towards the government I have now. I can not put it into words. The government (Biden and his minions in particular) flat out lies about inflation saying it is moderating, or, going down... blah, blah, blah and Physician's Mutual just raised my supplemental insurance rate by 9% and Mutual of Omaha just raised theirs nearly 18%!!! Everything I even look at in the store to buy is now outrageously priced and gasoline jumped up to $3.50 for regular around here and even more. The things we buy...
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Commercial real estate (CRE), particularly office space, reminds me of the Arthur Brown tune “Fire!” except that Jerome Powell of The Federal Reserve is the God of Hellfire! While fighting inflation caused by … The Federal Reserve and insane Federal spending (aka, Bidenomics). Call this the Over, Under, Sideways Down economy. The top 1% are doing quite well, while the lower 50% of net worth households are struggling. The Q1 2023 NCREIF Office property (value) index shows declining office value since Q2 2022 as The Fed began raising its target rate to combat inflation. From Trepp, we have this shocking...
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The “public interest” does not mean “special interest.” Regulators of Colorado’s public utilities corporations should learn the difference. The full mission of Colorado’s Public Utilities Commission is it “serves the public interest by effectively regulating utilities and facilities so that the people of Colorado receive safe, reliable, and reasonably priced services consistent with the economic, environmental and social values of our state.” That means serving the highest values of nearly 6 million diverse individuals with every imaginable set of priorities. It does not mean serving the highest values of wealthy climate change activists or the political party in power. The...
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California’s electric rates are among the highest in the country. Three big power companies propose charging fixed rates based on income, saying low-income customers will save money. Critics doubt it’ll work.
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Mortgage rates reached their highest level last week since a previous recent peak in November as incoming economic data sends more “mixed signals,” according to a report released by the Mortgage Bankers Association (MBA) on Wednesday. The average rate for the benchmark 30-year fixed rate mortgage hit 7.07 last week, up from 6.85 percent the week before, MBA’s data showed. “Incoming economic data continue to send mixed signals about the economy, with the overall impact leaving Treasury yields higher last week as markets expect that the Federal Reserve will need to hold rates higher for longer to slow inflation,” MBA...
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DENVER — Xcel Energy customers are sweating the possibility of another rate hike. They're making their opposition known to the Public Utilities Commission (PUC) as the agency considers a $45 million electric rate increase. “They make more than enough money. They don’t need to gouge their customers any further,” said Loren Meaux, an Xcel customer, in a public comment hearing Tuesday. Xcel originally filed for a $312 million increase to pay for investments in transmission projects and its commitment to meet Colorado greenhouse gas emissions goals. After negotiations with state regulators and consumer advocates, the company dropped the increase to...
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I am anxiously waiting for the US inflation report tomorrow, so I am just looking at the US Treasury yield curve, mortgage rates and cryptos today. The US Treasury 10Y-2Y yield curve stumbled (just like Biden and Bidenomics) to -91.166 basis points as the turnaround in M2 Money growth has stalled. Bankrate’s 30Y mortgage rate is up to 7.37%, that is UP 156% under Bidenomics. Bitcoin is down today. At least Solana is up. Since November 3, 2022, the US Dollar Index is DOWN -9.68%, Gold is UP 18.55% and Bitcoin (Elizabeth Warren’s latest obsession) is UP 51.11%.
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The Federal Reserve is printin’ the night away! Yes, as The Fed printin’ the night away, the US Treasury yield curve (10Y-2Y) is still inverted, but at -86.616 basis points. The 2 year US Treasury yield is down -8.2 BPS, the largest decline in the world … after Greece! Greece? The fiscal wreck on the Aegean! Opa!!
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Bidenomics, the massive Federal spending spree that helped drive inflation to 40 year highs, is the most top-down Soviet-style command economy model imaginable. As The Fed battles Bidenflation, the 30-year mortgage rate has now risen to 7.31%, a far cry from 2.88% when Biden was installed as President. That is a 154% increase in the 30-year mortgage rate under Bidenomics. The architect of Bidenflation, Snow Biden.
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The good news (if true)? ADP announced that 497k jobs were added in June. The bad news? A 497k print on jobs (many seasonal, it is summer!) almost guarantees that The FOMC (Fed Open Market Committe) will raises rates againt at the July meeting. The 2-year Treasury yield is up over 10 basis points. The 2-year Treasury yield is up 16.5 basis points. Bticoin Cash is up 10% today. I should have bought nickel! Why is Biden sending Treasury Secretary Janet “The Marxist Midget” Yellen to China? A Treasury Secretary and former Federal Reserve Chair? Likely trying to convince China...
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The closer we get to the 2024 Presidential election, the more the economy is slip slidin’ away. As Powell and The Gang raise interest rates, the more the economy is … slip slidin’ away. US Manufacturers New Orders YoY in May declined -1.0% for the first time since Covid. But as M2 Money growth slows, its getting late in the election cycle. Too soon?
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CV NEWS FEED // This Saturday is the one-year anniversary of Dobbs vs. Jackson Women’s Health Organization, the landmark Supreme Court decision that overturned Roe v. Wade, and reports show that in the last year, the number of abortions has decreased significantly across much of the United States. Disney-owned polling website FiveThirtyEight stated that “there were 24,290 fewer legal abortions between July 2022 and March 2023, compared to a pre-Dobbs baseline.” According to FiveThirtyEight, there were upticks in abortion rates in many blue states, including Colorado, Illinois, Michigan, Minnesota, Nevada, and Oregon. Since Dobbs, these states have passed laws or...
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Fed’s Powell to double down of hawish rate message. Or banks and consumers can expect no sugar tonight. Expect a hawkish Fed Chairman Jerome Powell to double down on the Fed’s commitment to vanquish inflation at his semiannual testimony before Congress on June 21-22. While the immediate audience will be lawmakers, the message will be aimed at markets, which remain unconvinced the Fed will hike by another 50 basis points, as indicated in the dot plot from the June FOMC meeting. Powell may raise his hawkish tone to push back against such views. Even as Powell is putting on a...
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Don’t kid yourself. The talking heads at The Federal Reserve (more like Feral Reserve) are only about halfway there in terms of rate hikes. There is still over $8 trillion in monetary stimulus sloshing around the economy. The Taylor Rule implies a target rate of 10.12% while the current target rate is just over half that rate at 5.25%. A little over halfway there and The Fed is likely to pause rate hikes. Of course, Yellen and Powell think The Taylor Rule is a pork roll product from Trenton, New Jersey. Fear the talking Fed!
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The Federal Reserve voted to raise interest rates Wednesday by another 0.25 percentage points, brushing aside concerns about the financial sector and an expected recession later this year. The Fed’s rate-setting committee voted Wednesday to boost its baseline interest rate to a range of 5 to 5.25 percent, the point where Fed officials expected in March to stop hiking rates, according projections from the Fed’s last meeting. The latest rate hike is the tenth in a row since the Fed began its program of quantitative tightening in March of last year. Over the past 14 months, the Fed has boosted...
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If you’ve opened your property tax assessment you’ve already had your coronary. Your property value has gone up between 30% and 70%.. That means because the Legislature, under Democrat Gov. Bill Ritter, froze mill levy rates (preventing them from lowering) and because voters foolishly repealed the Gallagher Amendment in 2020, your property taxes are going to go up some 30% to 70% next year. But don’t worry. The same people who have put you in this bind are going to pantomime rescuing you just as the clock runs out on their legislative session. What heroes. The Colorado state Legislature, with...
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Alarm! America’s mega bank, The Federal Reserve, is slowing M2 Money growth so rapidly that it looks like it is depthcharging the US economy. Inflation in the US has been booming since 1) Biden attacked fossil fuels, 2) The Fed’s overresponse to Covid (+27.48% YoY on February 22, 2021 near the beginning of Biden’s Reign of Error). and 3) out of control Federal spending under Biden, Pelosi and Schumer. Fed Funds Futures point to two more Fed rate hikes before The Fed drop rates like a depthcharge. This depthcharge will help create a rekindling of asset bubbles. The Taylor Rule...
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Turnaround Jay! Fed Funds Futures are pointing to one more rate hike at the May FOMC meeting, then a turnaround with The Fed cutting its target rate. Too bad the Taylor Rule is calling for a target rate of 10.29%. Like the film, “He Never Died”, The Fed never died. And neither did quantitative easing.
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As expected, The Federal Reserve raised their target rate (upper bound) to 5%, up 25 basis points. At the same time, Fed Reverse Repo useage soared to $2.28 trillion as banks hide from inflation. Here is today’s Fed FOMC decision. The Fed’s DOTs project looks like a ski slope with rates lower over the next few years (return of QE??) Treasury Secretary Janet “The BIG Statist” Yellen loves Modern Monetary Theory (MMT).
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