Monday Market Commentary

by Alex Stenback on March 6, 2006

Mortgage_rate_060302gifhmedium
                                                         Graphic Courtesy MSNBC
Last Week
Contrary to what MSNBC said on Thursday (in fairness, rates moved mostly after their piece), mortgage rates took a slight jump late last week after the European Central Bank (their version of our Fed) hiked rates.  The Bank of Japan is also expected to raise rates, which added fuel to the selloff in mortgage bonds that, as Dan Green points out, was stopped only by the weekend.
This Week
The number to watch this week will be Friday’s employment report – a strong jobs report signals a strong economy, which, as we’ve pointed out, can be bad for rates.  Also on the calendar this week are a handful of second-tier data releases: Factory Orders, Trade Data, Consumer Credit, and a Ten-Year Treasury auction.  As always, see the calendar link below for more info.
This Week’s Economic Calendar [barrons.com]

{ 1 comment… read it below or add one }

J March 9, 2006 at 11:30 pm

I’d like to see that little jagged line dip lower, please. LOL

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