video1.0<iframe src="https://www.loom.com/embed/02bac3e001694a3fa2b03d6add69005f" frameborder="0" width="1920" height="1440" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>14401920Loomhttps://www.loom.com14401920https://cdn.loom.com/sessions/thumbnails/02bac3e001694a3fa2b03d6add69005f-00001.gif343.4 Good morning! In this Loom, I'll give you a quick summary of what's coming up this week. It's Housing Week, and we'll hear from a number of Fed officials. Today, we'll get housing starts and building permits, which are expected to be down. We'll also hear from a couple of Fed officials. Tomorrow, we'll get mortgage applications and hear from Chairman Powell before the House Financial Services Committee. On Thursday, we'll get jobless claims, existing home sales, and leading economic indicators, all expected to be down. On Friday, we'll get a few more numbers, but nothing market-moving. I'll also show you some charts on housing starts, building permits, and leading economic indicators. Keep an eye on jobless claims, which have been trending higher since the fall of 2022. The Fed is looking at lagging indicators, while the market is looking at leading indicators, which is why there's a disconnect. The Fed just told us last week they're going to go two more times, but the market is not even pricing in a 100% chance the Fed will go one more time. Let's take a look at where we are this morning. The market is pretty flat across the curve, with the two years sitting at 4.72 unchanged and the 10-year up about a basis point. The curve continues to flatten as short rates push up with the Fed talking about two more rate hikes for the rest of the year and the long end relatively holding steady.