Treasuries were hit hard on Friday after investors digested Fed Chief Bernanke’s comments of impending rate hikes and other positive global economic news.

• This morning the bond market is closed in observance of Columbus Day, and tomorrow there are no new economic items.
• However things pick up on Wednesday with the Import and Export prices and the Retail Sales reports.
• Thursday we have the Consumer Price Index and the weekly Initial Jobless Claims.
• And on Friday the Industrial Production, Capacity Utilization, and Michigan Consumer Sentiment reports.

Mortgage rates are roughly unchanged from Friday’s afternoon reprice. Continue Reading…

Treasuries made respectable gains yesterday after a solid 10 year treasury auction.  Today is the last auction of the week; the $12 billion auction of 30 year notes will have results announced at 1:00 pm EST.  This morning the bond market has kept most of yesterday’s gains despite a jobless claims report coming in better than expected.  Wholesale Inventories came in worse than expected (-1.3% versus the forecast -1%).  Currently mortgage rates are roughly an 0.125 to 0.25 better in price from yesterday morning. Continue Reading…

• Treasuries are slowly declining ahead of the 7 year auction. The results from the $39 billion auction will be announced at 1:00 pm EST.
• In overseas news: Australia unexpectedly rose their benchmark rate, declaring to investors “the risk for serious economic contraction has passed”. The rate hike has caused a little rally in our stocks.
• Currently mortgage rates are slightly worse from yesterday morning. Continue Reading…