MBS RECAP: 10/7/2011

Monday is Columbus day and a bank holiday, although bond markets are closed, some lock desks will be open, but the calendar is silent. It effectively remains silent on Tuesday morning, but the week kicks off at 1pm with the 3yr note auction.

In the remaining days of the week, we’ll get two more auctions, FOMC minutes, and a increasingly busy economic calendar that includes the Trade Balance, Jobless Claims, Retail Sales, Import/Export Prices, Consumer Sentiment, and Business Inventories.

Perhaps most importantly will be next week’s role in the confirmation or rejection of the technical trends that were broken with today’s trading action. That’s discussed in greater detail in the following link:

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/231960.aspx

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