Mortgage Rates Steady to Slightly Higher
Uneventful Drift Ahead of Friday's Monthly PCE Data For the 3rd day in a row, the bond market logged a rather uneventful trading session ending with minimal change versus the previous trading day. All this despite the presence of several economic reports and Treasury auctions. If there was any reaction to this morning's data, it was slightly bond-friendly, but not enough to say it was anything other than random. The 7yr auction was a non-event, and stocks failed to offer any of the recent sort of spillover that has frequently made its way into the bond market. From here, the week's last big chance/risk of volatility is Friday morning's monthly PCE
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