Present Market Conditions
Mortgage Bonds start the week positive ( 10 Yr Bond at 2.38%) After last week's fireworks because of the better than expected May Job’s report.There are no economic reports due for release today and the week's calendar is on the light side with data until Thursday.
On Thursday we will have the Retail Sales and Weekly Initial Jobless Claims. Thursday’s Retail Sales number will have high impact on Mortgage rate Market and as result will be closely watched as a strong number would validate the strength of last Friday’s Jobs Report.
After the big price declines and yield and Mortgage rate spikes last week, we want to closely watch for signs of further stabilization in the Bond Markets.