Show notes:
TMSpotlight:
01-20-2026 Bonds are “Breaking the Habit”
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Memories consume the breaking of the wound
It’s picking bulls apart again.
The bears won Friday in Treasuries, while mortgages remained steady as they await details on GSE buying. The chatter over Fed independence is irrelevant. The Fed follows Bonds. And when they run their failed experiments, like Quantitative Easing, who holds them accountable? Only the bond market.
Expect the 10-year yield to find buyers between 4.25 and 4.35. The global questions around war, growth, and inflation remain, yet volatility measures are low.
Bonds know it’s not alright. So, they’re breaking the rate range. They’re breaking their habit out right.
These views are mine. Understand breaks at TMSpotlight.
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Song: Breaking the Habit (2003) Linkin Park
The Lykken on Lending program will feature our Weekly Mortgage Updates with Adam DeSanctis and his MBA Mortgage Minute, and then Les Parker’s TMSpotlight, a macroeconomic perspective on the economy with a music parody. That leads to Matt Graham of MBS Live providing you a rate & market update, followed by David Kittle, Chief Executive Officer @ Cypress Mortgage Capital, to discuss mortgage originations. Then we have Alice Alvey of Union Home providing a regulatory & legislative update, then Allen Pollack giving us a Tech Report on the latest technology impacting our industry. Finally, we wrap up the first half of the program with Marc Helm, Senior Executive Partner @ Transformational Mortgage Solutions, talking about Loan Servicing and the “Agencies”.