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MARKET COMMENTARY

A weekly look at where mortgage interest rates are headed. A weekly Economic Calendar is also included.

Jan 14, 2019

Last week mortgages and bonds held their ground with the yield on US 10yr Treasuries climbing to just above 2.70%. This was a small rise given that equities performed well.  The week was highlighted by US-China trade talks and the continuing US government shutdown. 

The key economic releases this week are the retail sales report, scheduled for Wednesday, and the Philadelphia Fed manufacturing index on Thursday. There are a few scheduled speaking 
engagements by Fed officials, including by New York Fed President Williams and Vice Chairman for Supervision Quarles. The retail sales and business inventories reports will be postponed if the 
federal government is still partially shut down. The factory orders, advance goods trade balance, 
wholesale and retail inventories, new home sales, and construction spending reports, which were not released in prior weeks, may be released if the federal government reopens. 

Economic Calendar for the week of 01/14/2019 to 01/18/2019: 

Monday: N/A 
Tuesday: Empire Manufacturing, PPI, Retail Inventories, New Home Sales, Construction Spending, Factory Orders, Durable Goods Orders, Monthly Budget Statement and Trade Balance 
Wednesday: MBA Mortgage Applications, Retail Sales, Import Price Index, Export Price Index, Business Inventories, NAHB Housing Market Index and Beige Book 
Thursday: Building Permits, Housing Starts, Philadelphia Fed Business Outlook, Initial Jobless Claims, Continuing Claims, Bloomberg Consumer Comfort,   
Friday: Industrial Production, Capacity Utilization and University of Michigan Sentiment 

Past Commentaries

Jan 14, 2019

Last week mortgages and bonds held their ground with the yield on US 10yr Treasuries climbing to...
Full Story

Jan 07, 2019

Last Wednesday during a Q&A panel in Dallas, with a hope to ease the minds of investors everywhere, Fed Chair Jay Powell...
Full Story

Dec 31, 2018

Last week was interesting as equities bounced back to recovery some of their massive losses from
Full Story

Dec 18, 2018

Trading volumes were muted as investors await this week’s Fed announcement. Yields rose slightly over the last week, but the US 10yr remains well below...
Full Story

Dec 10, 2018

Mortgages rallied last week as U.S. 10yr treasury yields fell 14bps on the week, the...
Full Story

Dec 03, 2018

Last week saw mortgages and equities rally as mid-week Federal Reserve Chairman, Jerome Powell, said the Fed’s benchmark...
Full Story

Nov 26, 2018

Last week, we witnessed subdued trading volumes as Thanksgiving and the general holiday vibe created a lethargic mood in fixed income markets...
Full Story
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