A calm day for markets

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Published Date 11/29/2024

At 9:30 am ET the 10 year note yield at 4.20% -6 bps, making the decline 10 bps since last Tuesday.

There are no economic releases today. OPEC+ had its meeting set for Sunday but delayed it until Thursday December 5th. The cease fire between Israel and Hezbollah has eased tensions in the mid-east, oil prices have been working lower as a response.

At 9:30 am the DJIA opened +72, NASDAQ +21, S&P +7. 10 year at 9:30 am 4.20% -6 bps. FNMA 6.0 30 year coupon at 9:30 am +14 bps from Wednesday’s close and +17 bp from 9:30 am Wednesday.

No data and most investors, traders and money managers not working today with little news.

The key 10 year note now the lowest since the end of October. Less concern about the mid-east helping drive the note from 4.50% 10 days ago down 30 bps.

FOMC meets again in two weeks (December 17th), markets are currently pricing in 66.3% odds on a 25 basis-point rate cut in December, according to CME Group’s FedWatch Tool, versus a 33.7% chance of a hold.

The 10 year note at 4.20% a key technical resistance, see chart.

The stock market closes at 1 pm, the bond market at 2 pm.

Source: TBWS

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Darren Orshoff is a Marketing and Real Estate professional, licensed Realtor with the California Department of Real Estate DRE#01803671 with WSR Real Estate DRE#01977642.  Darren is also a Certified Mortgage Planner, A Certified Financial Literacy Coach, A Dave Ramsey Trained Financial Coach, A Certified Mortgage Advisor, and while Darren is licensed by the NMLS, he is not originating loans but refers lending transactions to Golden Empire Mortgage, Inc. ("GEM") [NMLS ID No. 2427] licensed by the Department of Financial Protection and Innovation pursuant to the California Residential Mortgage Lending Act, for which he represents as the Corporate Marketing Coordinator.

Darren Orshoff

Realtor, Marketing Guru, Sushi Lover, Dad, Ham

License: CalDRE#01803671

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