Treasury Auctions (5,7,10,20,30 year)
Tomorrow also lacks a relevant economic release, but does have an afternoon event that is likely to influence bond trading and, quite possibly, mortgage rates. 10-year Notes will be auctioned tomorrow with results posted at 1:00 PM ET. If the sale is met with a strong demand from investors, we could see bond prices rise enough during afternoon trading to cause a downward revision to mortgage rates. However, lackluster bidding in the sales, meaning longer-term securities are losing their appeal, could lead to higher mortgage pricing during afternoon trading tomorrow.