Tuesday Market Commentary

by Alex Stenback on July 5, 2005

Wind_on_nokomis Wind on Nokomis by Visual Gratification

Last Week: Fed Raises Rates
On balance, mortgage rates rose very slightly for the week.  The Fed’s ninth consecutive interest rate hike had little effect on the market, as most traders had discounted this widely expected move by the Fed.  A dissapointing Treasury auction of 2 year notes seemed to be the main factor in moving rates up a click or two.
This Week: Employment Report
The June employment report will be released Friday at 8:30AM EST. This, along with factory orders (Thurs) will be the numbers to watch this week.  Weakness in either number could put downward pressure on rates.  As always, see the economic calendar link below for more information, consensus estimates, etc.
· This Week’s Economic Calendar [briefing.com]
· Latest Twin Cities Real Estate Market Report [MAAR]

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