US Treasury Secretary Steve Mnuchin has been speaking in the recent minutes with some interesting comments made on the housing and debt markets shown below:

• Housing finance reform will be the focus of the second half of the year
• It’s not responsible to let Fannie Mae and Freddie Mac as it is for four years
• Studying the cost and benefits of ultra-long bonds
• Hopeful tax reform can be concluded this year

The comments have seen a fairly sharp drop lower in Gold which fell to its lowest level of the day in the past 15 minutes. This was likely caused by a spike higher in US yields with the Tnote also seeing a quick decline.