Bond yields above pre-“Liberation Day” levels. FHA delinquencies soar to 15.11% on purchase loans. Morgan Stanley predicts no rate cuts from the Fed in 2025
Talk about a shift in sentiment: The 10-year note yield now pushing above 4.20% while the S&P 500 falls -4.5% in 3 hours. Yields are ABOVE levels seen before "Liberation Day." Once again, bond markets are telling us something. pic.twitter.com/zOQcikVObA …