Mortgage Rates Rise to Match 6 Month Highs
Orderly Move to Highest Yields in 8 Months Bonds reacted logically to this morning's econ data at 10am. ISM Services' inflation component was one of the worst offenders, but higher job openings didn't help. The spike in yields was instantaneous but fairly well contained. Bonds managed to drift sideways for the entire session after that with no discernible reaction to the 10yr Treasury auction (not a surprise considering it was very close to expected levels). All told, yields inched up to the highest since April 2024, but in a very orderly way. Econ Data / Events
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