Scott Bessent was named to be the new Treasury Secretary in the next presidential administration. Mr. Bessent is a known inflation hawk and the possibility of his appointment is helping interest rates to improve today.
Tomorrow we’ll see the minutes from the most recent FOMC meeting and then while you’re driving to Thanksgiving grandma’s on Wednesday, we’ll have Durable Goods, GDP, Jobless Claims, PCE, Personal Spending, and Pending Home Sales. Add to that big bomb of information the historical truth that rates are never better ahead of a four day weekend, and I don’t see interest rates getting much better before Monday the 2nd.
