Mortgage rates continued to grind higher last week as the post-election sell off in the bond market gained steam. Fed Funds futures are now trading at a 100% chance of an increase at the December meeting, as the current policy proposals of the President-elect are expected to increase inflation, paving the way for multiple rate increases next year.
The Holiday shortened week ahead will have limited economic releases for the market to digest, including Existing/New Home Sales and Durable Goods Orders. Markets will continue to focus on the prospects of the new administration as the President-elect continues to fill out his cabinet, with politics continuing to play an even larger role in market movements than economic data, which has been the case since the election.
Economic Calendar for the week of 11/21/2016 to 11/25/2016:
Monday: Chicago Fed National Activity Index
Tuesday: Richmond Fed Manufacturing Index, Existing Home Sales
Wednesday: Initial Jobless Claims, Durable Goods Orders, New Home Sales
Thursday: U.S. Holiday, Thanksgiving, Markets Closed
Friday: Wholesale Inventories
The Holiday shortened week ahead will have limited economic releases for the market to digest, including Existing/New Home Sales and Durable Goods Orders. Markets will continue to focus on the prospects of the new administration as the President-elect continues to fill out his cabinet, with politics continuing to play an even larger role in market movements than economic data, which has been the case since the election.
Economic Calendar for the week of 11/21/2016 to 11/25/2016:
Monday: Chicago Fed National Activity Index
Tuesday: Richmond Fed Manufacturing Index, Existing Home Sales
Wednesday: Initial Jobless Claims, Durable Goods Orders, New Home Sales
Thursday: U.S. Holiday, Thanksgiving, Markets Closed
Friday: Wholesale Inventories
