Good morning and welcome to Markets Desk.
The thirty-year fixed mortgage rate is sitting at six point four eight percent, and the Federal Reserve is not the culprit. Analysts are pointing directly at the federal deficit, which has climbed three point four trillion dollars, pushing long-term Treasury yields higher and keeping borrowing costs painfully elevated for American homebuyers regardless of what the Fed does with short-term rates.
Shifting to commodities, cotton futures finished Friday under broad pressure, with contracts off between forty-one and one hundred thirty-seven points across the board, July leading the slide down two hundred forty points. A stronger dollar, up more than sixty cents to just above one hundred, combined with crude oil losses of nearly three dollars, squeezed the soft commodity from multiple directions as speculative funds continued trimming their positions.
And in the crypto space, XRP is drawing renewed attention as the United States Senate moves closer to a potential vote on the CLARITY Act, legislation that could finally establish a clear regulatory framework for digital assets. A defined legal structure would represent a meaningful shift for the industry, removing the uncertainty that has long weighed on token valuations and institutional participation.
That's the tape. Markets Desk, signing off the floor.
