October 23rd, 2026 8:42 AM by Richard Sardella MLO.100007700/NMLS 233568
Bond markets got a boost yesterday on increasing concerns the tech and AI industries have exceeded their value. The 10 year, 2 year and 5 year note yield dropped 17 bps yesterday as investors bailed on stocks.
NASDAQ lost 700 points yesterday, this morning in pre-opening futures markets NASDAQ -105, DJIA -477.
AI was all investors could think about until the last four weeks when questions began to surface about safety and value. The current selling in equities may change future Fed actions.
At 10 am the October final University of Michigan consumer sentiment index. Consumer Sentiment was reported to drop to 48.0. Economic Conditions dropped to 46.7. Consumer expectations rose to 48.8.
The present moves to safety in treasuries puts a focus on what is looking like an overdue correction in tech and AI related investments.
PRICES @ 10:00 AM
10 year note: 4.99% +3 bp
5 year note: 4.81% +3 bp
2 year note: 4.68% +4 bp
30 year bond: 5.31% +3 bp
30 year FNMA 6.5: @9:30 am 101.50 -1 bp (+23 bp from 9:30 am yesterday)
30 year FNMA 6.0: @9:30 am 99.50 +1 bp (+31 bp from 9:30 am yesterday)
30 year GNMA 6.5: @9:30 am 101.23 unch (+18 bp from 9:30 am yesterday)
Dollar/Yen: 156.67 -0.10 yen
Dollar/Euro: $1.1199 -$0.0017
Dollar Index: 101.69 +0.09
Gold: $4,041 -$19.00
Bitcoin: 81,887 +494
Crude Oil: $102.11 +$2.64
DJIA: 52,306 -557
NASDAQ: 26,008 -1
S&P 500: 7637 -27
Richard Sardella has been actively managing and providing services in the mortgage industry for over 30 years. Richard serves on the board of directors as President of Colorado Home Mortgages Inc.
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MLO of record MLO.100007700 / NMLS#233568 / CHM NMLS#127716.