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Michael Rocco

Michael Rocco

Branch Leader
Movement Mortgage
NMLS ID # 1281719

Election Anticipation Keeps Markets Steady with Possible Rate Cuts Ahead

By: Movement Staff
November 1, 2024
This week, the 10-year Treasury yield—a measure of the interest on long-term government bonds that often reflects market confidence—stayed steady around 4.30% as markets hold their breath ahead of next week’s election.

October’s payroll report, a key indicator of economic health, showed a job gain of 12,000 nonfarm payrolls, well below the forecast of 100,000. The low number likely reflects disruptions from recent hurricanes, which affected both payroll data and response rates.

Despite this, current yield levels suggest strong expectations that the Federal Reserve will implement a 25-basis-point rate cut in both November and December, signaling potential adjustments on the horizon.
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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Michael Rocco
Michael Rocco
Branch Leader
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NMLS # 1281719

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