Treasury Auctions (5,7,10,20,30 year)
Tomorrow morning does not have an economic release that we need to be concerned with. However, tomorrow afternoon does bring two events that may influence rates. The first is the 20-year Treasury Note auction results at 1:00 PM ET. If this sale is met with a strong demand from investors, particularly international buyers, bond prices may rise during early afternoon trading. This could lead to a slight improvement in mortgage pricing. On the other hand, a lackluster interest in the securities may create selling in the broader bond market, causing an upward revision tomorrow afternoon.