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Mortgage Rates Back up to 3.875 Percent; Bond Market Weakness Simple in Hindsight; FHFA Sets Rules for Bulk Loans; Construction Spending Eases It was up 123 points shortly after the market opened. The Dow was also held back by Microsoft and Verizon, which both slumped after announcing deal news that investors didn’t like. Other indexes rose more than the Dow did. The Standard & Poor’s 500 index rose six points, 0.4 per cent, to 1,639.Monetary policy and long-term trends This tightening was expected to reverse the ultra-loose/relaxed monetary policy that was implemented since August 2007 towards 2016 to recover from the financial crisis 2007/09 in the US and Europe..
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