Financial markets reacted swiftly Friday morning to a currency crisis in Turkey, where the lira has tumbled to new lows against the American dollar. Simultaneously, President Trump has announced a hike in tariffs on Turkish metals as relations worsen between the two governments.
In the U.S., 10 Year Treasury yields fell below 2.9 percent for the first time in more than two weeks as bonds rallied on the global concern. Mortgage rates, which follow the 10Y, may edge lower in response.
Continue reading Talking Turkey: Markets react to tumbling Turkish lira at Movement Mortgage Blog.
via My Mortgage Insurance Blog
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