Monday Market Commentary

by Alex Stenback on March 13, 2006

                                                         Graphic Courtesy MSNBC
Last Week
Rates edged upward a bit more last week as the bond market dealt with continued fallout from the European Central Bank’s rate hike.  A poorly bid treasury auction Thursday and a good-but-not great jobs report Friday gave the markets little excuse to rally, leaving most mortgage rates at their highest level in nearly three years.
This Week
Full calendar ahead, with the inflation-tracking Consumer Price Index on Thursday getting most of the attention from the rate watchers.  A spike in this figure (showing Inflation) could push rates higher still – market sentiment has shifted a bit, with many Fed watchers expecting at least two more hikes yet this year.  Retail Sales, Housing Starts, and Industrial Production also bear watching.
This Week’s Economic Calendar [barron's]

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