3rd January 2025
- Treasuries Start 2025 in Familiar Bind as Oil Rally Lifts Yields
Signs of economic resilience abound, eroding demand for bonds
Next week’s Treasury auction schedule shifts to Monday start
https://blinks.bloomberg.com/news/stories/SPHARNDWLU68
- Reserves at Fed Sink Below $3 Trillion to the Lowest Since 2020
The $326 billion drop in week to Jan. 1 was biggest since 2022
Officials have been shrinking balance sheet since June 2022
https://blinks.bloomberg.com/news/stories/SL5DPRT0AFB4
- US Mortgage Rates Approach 7% in Ominous Sign for Housing Market
MBA’s measure of rate on 30-year mortgage rose to 6.97%
Home-purchase applications fell almost 7% during holiday week
https://blinks.bloomberg.com/news/stories/SPGWR9T0G1KW
- Euro Falls to Lowest Since 2022, Pound Weakens on Growth Woes
Weak growth, rates outlook have been weighing on the euro
Pound also underperforms as investors worry about UK activity
https://blinks.bloomberg.com/news/stories/SPGTXNDWRGG0
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