Treasury Auctions (5,7,10,20,30 year)
We also have the first of this week’s two relevant Treasury auctions taking place today. The impact on bond trading will be determined by how strong investor interest was in the securities. 5-year Notes are being today, while 7-year Notes will go tomorrow. If these sales are met with a strong demand from investors, we could see bond prices rise and mortgage rates improve slightly during afternoon trading. On the other hand, if they draw a lackluster interest from investors, mortgage rates may move slightly higher during afternoon trading today and/or tomorrow.