Monday’s bond market rally is continuing this morning with the yield on the 10 year note falling to 2.69% after hitting 2.84% on Friday. The August retail sales report was slightly better than expected as sales rose 0.4%, the second straight month of modest gains.
We have a full economic calendar the remainder of the week with Industrial Production, the Producer Price Index the Consumer Price Index and Consumer Confidence. As we have seen the past few days, expect continued volatility as the markets to trade on the data.
Mortgage prices have improved by approximately .25% this morning.
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