“The Fed will have no choice but to reliquefy the system,” an event that is likely to happen by the end of the World Series, Minerd writes on Thursday.
The U.K housing market is starting to cool down after house prices fell in September from a record high in August, as rising interest rates put “significant downward pressure” on mortgage rates, lender Halifax said on Friday.
The increase in new jobs in September slowed to a 17-month low of 263,000 due to ongoing labor shortages and waning demand for new workers as talk of recession grows, but it was still too strong for a Federal Reserve bent on slowing the economy and tackling high inflation.
Treasury yields rose Friday after the U.S. September payrolls report showed a surprise decline in unemployment as well as growth in wages, making a pivot in Fed policy less likely.