Bonds facing a critical technical test
If we get stronger-than-expected jobs data tomorrow, there's a very real chance the bonds will give up the ghost. And technically speaking, there isn't any real strong support until you get all the way down to the 110 area. We wouldn't fall that far tomorrow. But we could do so over the course of a few months. That would likely push 30-year fixed mortgage rates up into the 6.5% area. Worth watching for sure.