Felix Nikolas Prehn: Mortgage Rates Hit 7.45%

We connect the sudden jump in US mortgage rates to the bond market and lay out why the Fed can look tough while inflation pressures keep building underneath. We also explain how a change to the PCE inflation calculation and quiet Treasury liquidity moves can create a growing gap between official numbers and real-life bills. • how the 10-year Treasury yield drives 30-year mortgage rates • why investors, not the Fed, set the price of borrowing for homes • Bill Ackman’s argume...