The Market is fairly quiet after the Holiday weekend, 10-year notes are at 2% and MBS are opening up inline to hedges. The important data to track this week is as follows:
Housing Starts, Building Permints, PPI & Fed Minutes
CPI, Jobless Claims, Philly Fed & Existing Home Sales
The Street continues to talk about the tight range in 10-years (resistance at 1.93% and 2.10%), and while everyday the yield seems to be 2% at some point, there has been a decent amount of volatility as rates whip around. The aforementioned data points will be watched closely by the market and the Fed minutes will most likely generate more buzz than usual after what happened during the last release.
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