Market Commentary

Updated on April 19, 2024 10:06:10 AM EDT

We don't have any relevant economic data scheduled for release today. News that Israel made an attack on Iran last night could have fueled a nice bond rally this morning. It looks as if the markets are waiting to see if the conflict will escalate further or if last night's strike was more of a token move by Israel to save face in the global community. It will be interesting to see what transpires over the weekend.

Next week has plenty of relevant economic reports scheduled that are expected to influence mortgage rates, along with a couple of Treasury auctions. The week begins light with nothing expected to be released Monday. The most important events come during the latter days, including the initial Gross Domestic Product (GDP) reading for the first quarter and the Fed's preferred inflation reading for March. Look for details on all of next week's activities in Sunday evening's weekly preview.

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