Monday Market Commentary

by Alex Stenback on January 9, 2006

Jan_5_rates
                                                         Graphic Courtesy MSNBC
Last Week
A dip in oil prices, favorably received Fed minutes, and a neutral employment report gave the mortgage market an excuse for a mild rally, resulting in a slight drop in 30 year fixed rates.
This Week
Producer price index (Fri) heads the economic calendar this week, but a well bid 5-year Treasury auction (Wed) could put further downward pressure on rates, and the retail sales figs (Fri) also bear watching.  Market closes early on Friday ahead of the Monday MLK holiday.
ยท This Week’s Economic Calendar [Barron's]

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