Monday Market Commentary

by Alex Stenback on October 24, 2005

24_oct_rate_graphic
                                                     Graphic Courtesy of MSNBC
Last week
Mortgage bonds were bound by a tight trading range last week as the market pondered the inflation vs. slowdown question.  At the end of the week most rates held their ground, some showing a slight price improvement.  Note that we are at a 15-month high (see graphic above) however.
This Week
Third Quarter GDP and Employment Cost Index, both for Friday, highlight the rather full calendar, and weakness in either of these numbers could move rates down.  New and existing home sales, durable goods orders, a treasury auction, and consumer confidence figures round out the rest of this week’s releases, which as always, can be found at the link below.
This Week’s economic Calendar [barrons.com]

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