The UK’s Tax Cut Reversal, A Surge in Mortgage Rates, and Expected Reports from Banks. 10/18/22

Newly appointed Treasury Chief Jeremy Hunt has announced a reversal in the UK’s tax cuts in an effort to stabilize the economy. ING Bank’s Carsten Brzeski gives the latest. Plus, the 30-Year Fixed Mortgage is now hovering around 7%, jumping to its highest level in roughly 20 years. Digital Risk’s Jeff Taylor breaks down the housing sector. And, investors are awaiting final reports from financials, including Goldman Sachs, State Street, and Truist Financial. JMP Securities’ Devin Ryan previews what to expect.