It’s day 6 of the increasingly famous 11-day weekend (1 normal weekend plus the 3 day Memorial Day weekend and the 5 days in between without any big ticket market movers on the calendar). There was no way to know for sure that this week would be as flat and uninspired as it has been, but here on Thursday morning, we have yet to see any other indication. This morning’s Jobless Claims data was one of the only scheduled reports this week. It typically doesn’t move the needle and today is no exception. Yields were mostly flat overnight with a bit of volatility in sympathy to European bond market volatility, but the domestic session is underway at almost perfectly unchanged levels.
Source: mortgagenewsdaily.com