The week ahead

Next week is relatively light in terms of economic data, with the FOMC rate decision on Tuesday being the focal point. Also, we have T-Note and T-Bond auctions on Wednesday and Thursday which should keep some pressure on prices until then, unless we have some other bad news in the mortgage market.

The 110-00 resistance in the T-Bond seems to have been broken decisively on Friday with weaker than expected job data. Now let see if this is just a slight over-extension or a real rally!