Cari & I work in conjunction to post the market updates three times a week on Monday, Wednesday & Friday....Have a great day! ~Doug
Mid Week Update
Economic News: There is not much coming on the market calendar until tomorrow and Friday. The sentiment is that the Retail Sales number will show a modest gain on Friday. The jobless claims number is expected to also show slight improvement on Thursday following the better than expected reports at the end of last week. The government bond auctions began yesterday with 40 Billion in 3 year notes. The issue was well subscribed to and went well. Today we will be greeted with an auction of 21 Billion in 10 year notes followed tomorrow by 13 Billion in 30 year bonds.
Mortgage Markets: The 10 year note is still at the high end of its recent range at 3.73% yield. The Mortgage Backed Security Market is stable but could "break out" over the next 3 days depending on auction results and the strength of the remaining economic data. If you are refinancing or closing on a new home in the next 15 days keep a keen eye and be ready to lock ahead of the end of the week data.
Upcoming This Week: There are only a couple of important reports. Thursday: International Trade & Jobless Claims. Friday: Retail Sales & Consumer Sentiment.