U.S. Treasury Bond yields rise on expectations of a Fed rate hike at March 14-15 meeting – The 10-year U.S. Treasury Bond closed the week yielding 2.49%, up from 2.31% last Friday. The 30-year Treasury Bond yield closed the week at 3.08%, up from 2.85% last week. Mortgage rates follow bond yields, so we watch treasury bonds closely.
Consumer Confidence at 15 year high – The government reported that consumer confidence in February climbed to the highest level in 15 years. The Monthly Consumer Confidence Survey had the Consumer Confidence Index at the highest level since July 2001.
The jobs report which is usually released on the first Friday of every month was not announced today, as the short month of February makes it hard to compile the data on time. That report will be released next Friday.
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