Updated on April 20, 2018 10:33:56 AM EDT
There is nothing if importance set for release today. That may be bad news for bonds and mortgage rates because some friendly economic data would be quite helpful. The benchmark 10-year Treasury Note yield is now above what looks to be a critical resistance level. What is concerning is that if we stay above 2.91%, there isn’t much to prevent a move to 3.00% or even higher. I suspect 3.00% won’t be easy to crack, but since mortgage rates tend to track bond yields, just testing that threshold means rates would be higher than where they are this morning.