Treasury Auctions (5,7,10,20,30 year securities)
The first of this week’s two Treasury auctions that we will be watching comes this afternoon when 10-year Notes will be sold. If investor demand for the securities is strong, we could see bonds improve later today, possibly leading to a slight downward revision in mortgage rates. On the other hand, a lackluster interest in the securities may cause an increase in rates. Results will be posted at 1:00 PM ET, meaning if there is a reaction to the auction, it will come during early afternoon trading.