Mortgage backed securities have held there own the last few days even though the down was in positive territory. This is very unusual and MBS is now taking a big correction MBS off significantly this morning and Mortgage rates are higher. Bond market closed on Monday for holiday.
Thursday the 1st and Friday the 2nd were full of economic news none of it good. Initial jobless claims and Unemployment were both much higher than expected. The only good new there is no inflation right now. Treasury auctions are going to be the market movers this week.
Treasury auctions are the real news for this week. How will they be received is the question.