Mortgage Rates Tick Slightly Higher. More Volatility in Store Tomorrow

What to Expect From Wednesday's Inflation Data Bonds lost ground overnight in sympathy with European bonds. The domestic session was almost perfectly flat and entirely uneventful. Powell's testimony was a complete non-event with no new concepts for anyone who's tuned in to the past few appearances. Wednesday brings the critical CPI data. There's plenty of anxiety over this one as early year inflation data is notoriously more difficult to forecast. That said, forecasts always do a perfect job of accounting for changes in annual CPI that result from older data falling out of the calculation (because that's just simple math, after all). In addition to forec