Market Snapshot November 8, 2017
Good Wednesday A.M.,
Still the best day of the week and still a very boring week for data. Nothing on the agenda for today other than a 10-yr Treasury Note auction in an hour+. Not expecting much from that, but hey a guy can hope. The 10-yr is at 2.31% and Mortgage bonds are-2bps on the day. The very tight range continues. The 10-yr German Bund is holding at .32% so I would expect Treasuries have a better shot to improve than lose ground. The relative strength indicators are screaming at me that I am wrong and bonds are near 90% overbought, yet other indicators are showing signs of strength and more room for improvement. It’s all Greek to me today and the bottom line is there is no hint, let alone clarity, on the next direction. Most traders are calling for a neutral stance.
New study by Zillow is examining the newest generation to enter the housing market – Generation Z. Wait, what? Already? Are they even old enough to enter the housing market? As it turns out, yes, they are. Generation Z is considered to be those born from 1995 to 2010, meaning the oldest in the generation are now 22 years old. The Zillow Group Report on Consumer and Housing Trends 2017 shows this new generation now makes up more than 21% of the U.S. population, and is the most ethnically and racially diverse generation in our history. And they are beginning to enter the housing market as renters…
That’s all I got… make today great!