Bond Market Update
Bond Market Update
Market Update
Friday, May 14, 2021What's going on and why does it matter?
Mortgage bonds opened higher this morning after staging a nice rebound in yesterday's trading session. It will be interesting to see if mortgage bonds can muster the strength to break above their 30-day moving average, or if it will operate as a technical ceiling of resistance. On today's economic calendar, the retail sales report came out weaker than market expectations, while several more reports are scheduled for release later this morning. The Fed is scheduled to purchase up to $4.483 billion of mortgage bonds today.
What should you do about it?
Lock your rate to be safe.
Economic Calendar
Economic reports that may impact mortgage rates this week:| Date | Report | Period | Prior | Est. | Actual |
|---|---|---|---|---|---|
| Tue 11 May | JOLTS Job Openings | Mar | 7.367M | 7.500M | 8.123M |
| Wed 12 May | Core CPI | Apr | 0.3% | 0.3% | 0.9% |
| Wed 12 May | CPI | Apr | 0.6% | 0.2% | 0.8% |
| Thu 13 May | Initial Jobless Claims | Week ending May 8 | 498k | 490k | 473k |
| Thu 13 May | PPI final demand | Apr | 1.0% | 0.3% | 0.6% |
| Fri 14 May | Retail Sales | Apr | 9.8% | 1.0% | 0.0% |
| Fri 14 May | Industrial Production | Apr | 1.4% | 1.1% | |
| Fri 14 May | Capacity Utilization | Apr | 74.4% | 75.1% | |
| Fri 14 May | Business Inventories | Mar | 0.5% | 0.3% | |
| Fri 14 May | U of Mich Consumer Sent. | May | 88.3 | 90.3 |