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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 saw mortgage rates rise. Although equities did not see much movement, yields on bonds rose late in the week with the yield on the U.S. 10-year yield rising to 2.939%.

 This week’s calendar is looking quite a bit busier than is normally seen in a post-payrolls week. Monday sees the release of just consumer credit statistics for July, but Tuesday brings the NFIB small business survey for August, JOLTS job survey for July, and final wholesale trade and inventory data for July. On Wednesday, PPI data for August and the latest Fed Beige Book are due. The following day, attention will turn to the CPI for August. The highlight of a busy Friday will be the retail sales report for August. The preliminary University of Michigan consumer survey results for September, and IP and import prices reports for August, are also due Friday, alongside full business inventory data for July. In the bond market, the US Treasury will auction 3-year notes tomorrow, 10-year notes on Wednesday and 30-year bonds on Thursday.

Economic Calendar for the week of 09/10/2018 to 09/14/2018:

Monday: Consumer Credit
Tuesday: NFIB Small Business Optimism JOLTS Job Openings and Wholesale Inventories
Wednesday: MBA Mortgage Applications, PPI and U.S. Federal Reserve Beige Book
Thursday: Initial Jobless Claims, Continuing Claims, CPI, Real Weekly Earnings, Bloomberg Consumer Comfort Index and Monthly Budget Statement
Friday: Retail Sales, Import Price Index, Export Price Index, Industrial Production, Capacity Utilization, Business Inventories and University of Michigan Sentiment

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