A Houthi strike on Riyadh, the highest US mortgage rate in 19 months, and Bessent flying to New York for a summit that could reset global trade. Monday's crowded.

The week opened with a missile strike on Riyadh, a mortgage rate at a 19-month high, and the two most powerful economies on Earth sitting down in New York. Buckle up.

🛢️ Oil near $100. Mortgages at 7.24%. Same week.

Today on The Open Bell:

Houthi forces struck Riyadh over the weekend, oil gapped higher on Sunday night, and even after pulling back this morning, we're close enough to $100 a barrel that your petrol price, your next flight, and your heating bill are all already feeling it.

The US Treasury Secretary and China's top economic official sat down in New York yesterday, the highest-level contact between the two countries in months, and what they work out on tariffs before the Trump-Xi summit later this week will end up in the price of your phone, your car, and half the things on the shelves at your local shop.

The average 30-year US mortgage rate just hit 7.24%, a 19-month high, which sounds like a number until you do the math: that's roughly $640 more per month on a $400,000 loan than it cost borrowers when rates were sitting at 3%, and the Fed may not be done yet.

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New episodes every weekday morning at theopenbell.co

Not investment advice. For informational purposes only.

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Chapters:
00:00 Introduction
00:09 Houthis Strike Riyadh; Oil Opens Higher Then Eases on Flow D
03:08 US-China Talks: Bessent Meets He Lifeng in New York Ahead of
05:26 US 30-Year Mortgage Rate Hits 7.24%, a 19-Month High, After 
07:22 Closing thoughts

Houthi forces struck Riyadh over the weekend, oil gapped higher on Sunday night, and even after pulling back this morning, we're close enough to $100 a barrel that your petrol price, your next flight, and your heating bill are all already feeling it.

🛢️ Oil near $100. Mortgages at 7.24%. Same week.

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