Treasury Auctions (5,7,10,20,30 year)
In fact, the week has only one monthly report in addition to a couple of Treasury auctions that may affect rates during afternoon hours midweek. We also have plenty of Fed speaking appearances and more corporate earnings to watch this week. Don’t be surprised to see some pressure in bonds and mortgage pricing following such a quick and strong rally, assuming there are no major surprises in this week’s activities. By no means are we indicating a reversal of last week’s improvements, but without some big news to fuel the rally further bond traders may adjust holdings (sell) to lock in some of last week’s profits.