Treasury Auctions (5,7,10,20,30 year)
Next up are the results of tomorrow’s 20-year Treasury Bond auction at 1:00 PM ET. If the sale draws a strong demand from investors, we could see bonds improve during early afternoon trading, possibly leading to a slight downward revision to mortgage pricing. On the other hand, weak interest in the securities could cause an upward revision to rates tomorrow afternoon. Last week’s auctions drew mixed interest from investors, so this one could go either way.