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Market Snapshot 3-13-24- Very Quiet Day

Good Wednesday Morning and the best day of the week from your hometown lender,

Very quiet day for news today.

The only activity on the domestic economic calendar today will be Treasury auctions, headlined by $22 billion reopened 30-year bonds. Rate sheets this morning a bit worse than yesterday, watching rates slowly creep up a little at a time. Nothing substantial but markets are already positioning for next week’s Fed decision/commentary and expectations Chairman Powell may push back expectations for rate cuts.

There is more economic data hitting tomorrow

PPI, Unemployment claims, and Retail Sales (I expect both to be weaker than expected). Friday brings Consumer Sentiment (I tend to trust this number a lot, as consumers know how they feel and markets follow suit typically within a quarter), Import Prices and Capacity Utilization. Those reports can each weigh on rates some more (positive or negative).

Please remain safe and healthy, make today great!