Economic data today sent mixed messages to the markets and had nothing to do with today's .02 increase in the 10-year yield. If anything, it was probably profit- taking after Friday's rally…The again, this is a for profit business after all!
The rest of the week will be focused on Geo-politics around the world. Terrorism, Oil, Comey's testimony, the UK election, and the ECB's announcement will take center stage. Oh, yes, there is the White House to contend with as well. Thursday is the biggest day for action. Where the markets will go is unknown as we have learned that odds and predictions don't always work. Today the markets were very muted after the new attack in London, thus telling terrorists around the world that we are marching on.
Mortgage rates continue to be mostly unchanged. I am not a betting person but it is likely that one of this week’s big ticket events will upset the apple cart, but I hope in our favor...l'll be back when the action begins for real.