Stock Influences
There is nothing of importance scheduled for release tomorrow. We can expect stock movement to help drive bond trading and changes to mortgage rates. Generally speaking, stock losses are good news for bonds. As stock selling accelerates, investors tend to move funds into bonds as a safe-haven from the volatility. That causes bond prices to rise and yields to move lower, translating into improvements to mortgage rates. If stocks rebound tomorrow, we could see bonds give back some of today’s gains and mortgage rates to move a little higher.