iShares 7-10 Year Treasury Bond ETF (IEF)

In an interview with Bloomberg, Summers said the current monetary policy and signaling of the Federal Reserve is a bit on the “loose side.”

The two-day meeting of the Federal Reserve is already underway, with the outcome scheduled to be announced on Wednesday at 2 p.m. ET.

According to a Bloomberg report citing Bessent’s mortgage applications with Bank of America, the Treasury Secretary agreed to occupy two different homes as his “primary residence” simultaneously, a pledge similar to one made by Cook.

According to a CNBC report citing data from the Mortgage Bankers Association on Wednesday, refinancing applications witnessed a 58% jump last week.

Bond ETFs like TLT could surge as the Fed eyes a rate cut. Duration is the key trade investors are rushing to ahead of policy easing.

Speaking to reporters at the White House, the U.S. President reiterated that the benchmark interest rate “should be much lower,” ahead of the Federal Reserve’s decision scheduled for Wednesday.

In a post on Truth Social, President Trump said an interest rate cut would give a boost to the housing sector.

Yardeni said while markets are “hoping” for a 25-basis-point cut, they would be “pleasantly surprised” by a 50 bps cut.

Data from Freddie Mac shows that the average rate for a 30-year fixed-rate mortgage was 6.35% as of Friday, down from 6.5% last week.

The annual adjustment by the BLS revealed a downward revision of 0.6% in total nonfarm employment, which is higher than the 0.2% average over the past decade.

The Fed controls the short end; markets set the long end. Read the yield curve’s 2025 message and how to translate it into trade decisions.