The yield on the benchmark U.S. 10-year Treasury note climbed on Wednesday after two straight days of declines, as economic data failed to reinforce recent hopes the U.S. Federal Reserve might pivot to a less hawkish policy stance.
Newsfeed: TREASURIES-U.S. yields rise as Fed pivot hopes fade Read More »
A group of some of the world’s most powerful oil producers on Wednesday agreed to impose deep output cuts, seeking to spur a recovery in crude prices despite calls from the U.S. to pump more to help the global economy.
Saudi Arabia has agreed to cut its production for November by 526,000 bpd, from its current quota of 11.004 million bpd, according to data provided by OPEC following its Wednesday meeting to set new production targets.
Newsfeed: Saudi Arabia, Russia To Cut 1.05 Million Bpd In November Read More »
Mortgage applications on Wednesday became the latest sign showing how hard rates are hitting housing. And it could get worse.
Newsfeed: Housing ‘brought to its knees by the Federal Reserve,’ expert says Read More »
The pace of mortgage applications has fallen to a multi-decade low amid high housing interest rates, according to the latest data from the Mortgage Bankers Association (MBA).
Newsfeed: Mortgage Application Pace Plunges To 25-Year Low As Housing Recession Deepens Read More »
Ahead of Friday’s big number, and following last month’s dismal print (under its new model regime) which dramatically under-predicted the payrolls print in August, ADP was expected to show a modest uptick in September of 200k jobs. The actual print came in at +208k jobs but most notably, the +132k print from August was revised drastically higher to +185k…