This week’s economic calendar is light with April industrial production and capacity utilization, housing data, and the Leading Economic Indicators Index. The minutes of the Fed’s April meeting will be released on Wednesday, however, given the post-meeting press conference, it seems unlikely the minutes will produce any surprises.
Treasuries are coming into the week on a roll following several strong weeks of trading with the yield on the 10 year note has falling to 3.17%. Some analysts believe treasuries over-bought and due for a correction, however, as economic growth appears to be slowing we may see bonds stabilize at current levels. Even though treasury prices are flat this morning, mortgage bonds are declining so you will see pricing .125% to .25% worse than Friday.
Some good news on the energy front as oil prices give ground trading below $100 per barrel. Let’s hope this becomes a trend.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment