05-06-2024 Bad Data is “Criminal”
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The data hustle, they’re no good at all.

Moves like a loser, they are mixed, up, down, done.

Dripping Oil, softening Gold, and cooling Copper lifted the short-end’s hope that the Fed will ease this year. Friday’s Jobs report helped.

Additionally, the Fed’s significant slowing of QT in June lowers liquidity risks and confirms that it understands the problems with restrictive policy, high-priced consumer debt, and elevated real rates.

With the YTD 10-year yield range being 3.81 to 4.74, expect surprises to take the yield beyond 5% and below 3.5% this year.

But Powell, Bears found love with a criminal. And bad data love isn’t rational. It’s physical.

Song: Criminal (2011) Britney Spears

Les Parker, CMB

Former senior vice president of a national technology and service company.

Les Parker is the Managing Director at Transformational Mortgage Solutions Advisory Board Member for Ainsworth Advisors; and has served as the Senior Vice President of Industry Relations and Consulting at LoanLogics, a technology and services provider focused on improving mortgage loan quality, performance, and reliability throughout the loan life-cycle. His responsibilities included managing the company’s life of loan analytics and monitoring capabilities, overseeing consulting services, contributing to the strategic planning team, and communicating with industry leaders to develop and maintain positive relationships. He focused on identifying threats and strategic opportunities.

Parker has executive mortgage banking experience in capital markets, servicing, operations, production, and financial management. Parker has served as director of the largest private issuer of CMOS. His educational background covers music, religious studies, mortgage banking, mathematics, and business administration. Parker holds a BBA in Finance, and other degrees, and has held numerous securities licenses. Parker is a Master Certified Mortgage Banker, a designation conferred by the Mortgage Bankers Association. Parker writes, speaks, and provides audio content,  Since the late 1980s, he publishes a daily newsletter connecting global macroeconomics to the US interest rate movement.