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Matt Bates

Senior Loan Officer
Movement Mortgage
NMLS ID # 844154
72 Pine St, 4th Floor, Providence, RI 02903
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p: (401) 266-4416
f: (401) 429-6384
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Economic Data and Election Speculation Shape Rate Movements

By: Movement Staff
October 25, 2024
The strong September payroll report set a solid foundation for October’s economic data, raising questions about how much the Federal Reserve might adjust policy. Earlier this month, bond yields held steady with a light economic calendar, highlighted by September’s Retail Sales report, which showed strong consumer spending.

However, bond yields have surged over the past month. The 10-year Treasury climbed by 50 basis points in part due to signs of economic resilience and speculation of a potential Republican sweep in the upcoming election. Mortgage spreads have also widened to six-month highs relative to Treasuries, signaling investors are remaining cautious as the election nears.

This week, markets have shown some stability, suggesting that investors may be comfortable with current levels while awaiting clearer direction in the coming weeks.
Author: Movement Staff

The Market Update is a weekly commentary compiled by a group of Movement Mortgage capital markets analysts with decades of combined expertise in the financial field. Movement's staff helps take complicated economic topics and turn them into a useful, easy to understand analysis to help you make the best decisions for your financial future.

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Matt Bates
Senior Loan Officer
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72 Pine St, 4th Floor, Providence, RI 02903
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NMLS # 844154

State License #CT-LO-844154, FL-MLDB14465, MA-MLO844154, NH, RI