CPI - Mohamed El-Erian Says Likey 'We See 8% Mortgages Soon' As US Bond Yields Flirt With 4.5% | Benzinga
What Happened: On Wednesday, economist Mohamed El-Erian took to X, formerly Twitter, to discuss the recent rise in US 10-year government bond yields, which he noted are now “flirting with the 4.50% level.” He indicated that the increase in bond yields is influencing the fixed-income complex, pushing up mortgage and other borrowing costs, while also undermining stocks both directly and indirectly.
Remember this from just two days ago? — Mohamed A. El-Erian (@elerianm) September 21, 2023
The yield on the US 10-year government bond is now flirting with the 4.50% level — part of a generalized move higher in the fixed income complex that is pushing up mortgage and other borrowing costs, as well as undermining stocks both… https://t.co/L0xrlNFUbq
El-Erian’s comments come ...