Posted by
boxflyz About Econ on Wednesday, May 23, 2007 11:16:28 AM
There is little movement in the bond market today. There is little data out today, so, in all likelihood, the bond market is simply taking a breather from yesterday’s sell off (see yesterday’s post). The 10-year Treasury is +.014% with the rate at 4.845%.
In good news, the MBA Purchase Application moved higher. The weekly reading was 438.1. What was very important is the 4-week moving average was up to 434.0. That is the highest in over a year. That means we MAY be turning the tide on the housing bubble.
SHORT-TERM OUTLOOK [23 May 2007]
Both of these speeches could have an impact on rates:
|
May 23 |
Speech - Governor Randall S. Kroszner
Truth and Lending Open-End Rules Review
George Washington University School of Business Mortgage Policy Forum, Washington, D.C.
1:00 p.m. |
|
May 24 |
Speech - Governor Frederic S. Mishkin
Measuring Potential Gross Domestic Product
Federal Reserve Bank of Dallas Monetary Policy Conference, Dallas, Texas
8:00 p.m. |
Steve Boxmeyer [612] 799 – 6858
steve@LendWithIntegrity.com