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A weekly look at where mortgage interest rates are headed. A weekly Economic Calendar is also included.

Market Commentary

Last week started off on a negative note with rates rising on the continued uncertainty of economic sanctions and politics. Moving forward in the week we saw rates begin to lower and stock markets rise on strong economic reading and a lowering of the unemployment rate from 4.0% to 3.9%. 

The economic data calendar in the week ahead is nearly vacant, inflation and auctions are the only matter of note this week. Monday has no economic releases. Tuesday again is a light day with only Consumer Credit scheduled for release. Wednesday does not hold any economic releases, but we are graced with a speech from Fed President Barkin about the state of the economy who will likely repeat what Fed Chairman Powell spoke to last week. Thursday has the highest number of releases with Initial Jobless Claims, PPI, and Wholesale Inventories, but the most anticipated release day will be on Friday with the release of CPI, a key inflation indicator. Fed Auctions will also be a contributing factor to markets this week as markets search for direction amid a flattening yield curve with Wednesday’s 10yr Note Auction being the most anticipated. 

Economic Calendar for the week of 8/06/2018 to 8/10/2018:

Monday: N/A
Tuesday: Consumer Credit, US 3yr Note Auction
Wednesday: Fed Speaker Barkin Speaks and US 10yr Note Auction
Thursday: Initial Jobless Claims, PPI, Wholesale Inventories, and US 30yr Bond Auction
Friday: CPI and Monthly Budget
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