From Matthew Graham at Mortgage News Daily: MBS RECAP: Logical Reaction to Data Sets Stage For Interesting Week
The week began with bond markets reacting to weaker economic data with a logical rally. That’s the sort of quintessential connection that’s been fairly elusive for most of the post-pandemic era. Last month’s super strong jobs report (and subsequent bond losses) suggested that trend may be changing. … [30 year fixed 3.10%]
emphasis added
Tuesday:
• At 8:00 AM ET, Corelogic House Price index for March.
• At 8:30 AM, Trade Balance report for March from the Census Bureau. The consensus is the trade deficit to be $74.0 billion. The U.S. trade deficit was at $71.1 Billion in February.