President Trump announced that he has narrowed down his pick for the next Fed Chair to three candidates. So now, Kevin, Kevin, & Chris go head-to-head in a game called “Pick Me Because I’ll do Whatever You Say”. Expect to hear who takes the crown in the next few weeks.
Japan’s Central Bank hiked their interest rate overnight, which bumped our 10 Year back above 4.0% and puts upward pressure on mortgage rates. The move upward has been attenuated by the release of the Fed’s Beige Book last Friday which showed a decline in economic activity nationwide. But, that was before the Black Friday data was fully compiled, and from it we learned that the altruistic gift giving consumer is alive and well, spending a cumulative $12 billion in one day.
Later this week we have PCE and ADP.
