by Calculated Risk on 8/02/2021 09:00:00 PM
From Matthew Graham at Mortgage News Daily: MBS RECAP: Bonds Surge Into August Despite Headwinds
It was an interesting juxtaposition to see a Fed speaker talking about tapering being announced as early as September while bond yields hit the 3pm close at the lowest levels since February. Headwinds are definitely present, whether we’re talking about tapering risk or simply the selling opportunity presented by such low yields at a time when the economy may soon suggest a bounce. But tailwinds remain because that suggestion has yet to be made. … [30 year fixed 2.80%]
o At 8:00 AM ET, Corelogic House Price index for June.
o All Day, Light vehicle sales for July from the BEA. The consensus is for light vehicle sales to be 15.7 million SAAR in July, up from 15.4 million in June (Seasonally Adjusted Annual Rate).
o At 11:00 AM: NY Fed: Q2 Quarterly Report on Household Debt and Credit