Peter Schiff is warning that bonds are facing a grim future, with the 10-year Treasury yield hitting a high not seen since October 2007 at 4.48%. He anticipates that the 30-year fixed-rate mortgage will reach 8% in the coming week, and next year, the 10-year Treasury yield could exceed 6%, leading to mortgage rates nearing 10%.
#Bonds are getting killed and the bloodbath is just getting started. The 10-year Treasury yield is 4.48%, the highest since Oct. of 2007. The 30-year, fixed-rate #mortgage should hit 8% next week. Next year the 10-year Treasury should yield over 6%, with mortgage rates near 10%.
— Peter Schiff (@PeterSchiff) September 21, 2023
With the surge in treasury yields – I find the comment that Powell made yesterday that supply from record deficits is impacting LT yields. Gold since 2020 has decoupled from Treasuries. We are on the verge of a sovereign debt crisis and time to get your gold #gold pic.twitter.com/7cypfEq2Gn
— Mario Stifano (@Mario_Stifano) September 21, 2023
10Y3M spread at -101bps
10Y at 4.49% pic.twitter.com/Yos2pEZF6w
— Don Johnson (@DonMiami3) September 21, 2023
BREAKING: Average interest rate on a 30 year mortgage rises to 7.59%, its highest since December 2000.
With interest rate cuts now no longer expected until September 2024, it is likely we see 8% mortgages soon.
On top of the Fed holding rates higher for longer, US deficit… pic.twitter.com/viC8IIYUOx
— The Kobeissi Letter (@KobeissiLetter) September 21, 2023
Everything is fine … 🔥🔥🔥 pic.twitter.com/EHYzxOjJX2
— Wall Street Mav (@WallStreetMav) September 21, 2023