The Week Ahead: Light Data Calendar, Treasury Auctions, Holiday Weekend

The line-up of economic data in the week ahead is one of the lightest of the year.  Monday is essentially data-free.  The following two days of the week are focused on housing with Existing Home Sales on Tuesday and New Home Sales on Wednesday.  Those same two days  also kick off the Treasury Note auctions for the week though Tuesday’s 2yr Notes are generally not moving markets these days.

Wednesday’s 5yr auction has more potential to affect MBS, but the result would have to be a pretty big surprise in one direction or another.  The data shifts away from housing on Thursday with Durable Goods and Weekly Jobless Claims, both moderately important data sets, though not ‘high risk’ events.  Thursday also rounds out the Treasury auctions for the week with 7yr Notes at 1pm.

While there is data on Friday–Consumer Sentiment–we’d also note there’s not  much else.  Bond markets close early (2pm Eastern) and also get the entirety of Monday off for Memorial Day.  The following week sees an almost brutal acceleration of data and events into the last two days of the week, culminating in NFP on Friday June 1st.

 

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/259934.aspx

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