Good Tuesday AM,
Minimal economic news today.
The only thing I could find was the Richmond Fed metric on that region’s economic activity. Certainly not breaking news although the reading was soft at 3 on expectations of 8. Bonds seem to be holding a little bit of a bid this am after a great day, yesterday with the 10-yr down to 4.83%.
The news starts to heat up on Thursday with GDP and Durable Goods orders.
The bar is set high for these releases so if the data falls short, we could see rates improve quickly. I hate to even consider floating, as that has been a poor decision over the past few months, so I would say for the moment, be watchful. If the 10-yr does not continue to improve we do run the risk of it rebounding back to 5%.
Please remain safe and healthy, make today great!