Interest Rate Roundup

Friday, June 15, 2007

Closing bond market action ...

Long bond futures finished the day up 12/32 to 106 13/32. That means we held support in the mid-105s but haven't made a ton of upside progress. Ten-year yields were recently at 5.15%, down from the peak on 6/12 of 5.3%. I still think the idea of a nice, neat, clean double-top in this area is just too cute, and that we have more upside ahead. But I've been wrong before.

Next week, we get a peek at the June NAHB Housing Market Index on 6/18, May housing starts and building permits on 6/19, and the June Philly Fed Index on 6/21. That's about it as far as economic data is concerned, besides the usual weekly stuff (jobless claims, mortgage apps, etc.)

Have a good weekend!


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