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Biden’s State of the Union deal with noticed him bragging about his document job creation (really, it was the non-public sector, not Biden than created jobs) and historic unemployment charge. What Biden didn’t point out (together with not discussing the porous Mexican border with fentanyl pouring throughout or why he didn’t shoot down a Chinese language spy balloon till after it has handed over quite a few navy reservation) is that the unemployment charge all the time hit a low level simply previous to a recession.
So, right here we sit at 3.4% unemployment. However we additionally see the US Treasury yield curves (10Y-3M and 10Y-2Y) remaining deeply inverted.
The US Treasury 10-year yield is up 5.5 foundation factors at this time.
And Bankrate’s 30-year mortgage survey charge is up barely at this time.
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