Monday Market Commentary

by Alex Stenback on January 30, 2006

                                                         Graphic Courtesy MSNBC
Last Week
Interest rates rose very slightly last week, up .125% or so on stronger than expected economic data and a couple of poorly bid treasury auctions.
This Week
Two big events will get most of the attention from the markets this week.  The first is the changing of the guard at the Fed, the second will be Friday’s employment report.  The Fed will raise short term rates by .25% (no surprise here) and the comments accompanying the hike will be subject to the usual vigorous parsing for clues as to future Fed moves.  If the economy added significantly more than the expected 250k jobs, we may see a selloff in the bond market, which will cause mortgage rates to rise – never a good report to float your rate through.
ยท This Week’s Economic Calendar []

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