Where did everyone go? Last Friday, weak trading levels caused a substantial increase in rates. This increased the industry best execution to 4.75%. Another round of slightly positive economic data failed to convince markets that the Fed would reconsider tapering bond purchases in September. This week FOMC minutes are due out on Wednesday, Jobless claims on Thursday, and we will close the week with New Home Sales on Friday. The chance for volatility is high this week with many key speakers and economic data due out, hold on it could be a bumpy ride.
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