Market Commentary [05.24.2022]

Bond pricing is slightly improved this morning as treasury yields fell in early trading. The U.S. 10 Year Treasury yield is currently 2.815%. U.S. stock futures remained under pressure overnight pointing to lower openings on Wall Street. Investors are transitioning back to safe havens as a result. Concerns over rising inflation continue to permeate the market as investors continue to watch the Federal Reserve’s next moves. New Home Sales will be released at 10am ET and has dipped over the past 4 releases. Economists are expecting a release near 750,000. Jerome Powell is scheduled to speak at 12:20pm ET with investors eager to catch any indication of the Fed’s views on the economy and monetary policy. FOMC minutes will be released Tomorrow at 2pm ET for more insight as well. Mortgage rates are holding steady as treasuries have traded sideways in recent days. According to recent data, the MBA showed a decline of 10.6% in mortgage applications year over year in April. Month over month a 14% decline was also seen as rates mixed with higher prices have put pressure on affordability.
 
This week's major U.S. Economic Reports and Fed Speaker

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