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Freddie Mac Predicts Lower Rates in the Next Two Years
Monday, December 2, 2019
We started this piece by noting that Freddie Mac's
economists wrapped up November in an unusually brief summary. Then we realized we
had said almost exactly the same thing about the company's Economic and Strategic
Research (ESR) Group's report last month. November's, however, was even shorter.
Should we conclude that, if no news is good news, things are getting better and
better? Perhaps not, but the economy
does seem relatively stable. The summary noted that the 10-year Treasury Note featured
the highest yields since July, largely because investors were growing optimistic
that the U.S. and China might get a trade deal.
But the market was also extremely volatile during the month as those hopes
waned. The second week of November saw the 10-year Treasury yield plummet by
nearly 15 basis points.
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