The RateWatch
 Commentary by Bill Brizendine of Melody Capital MarketsThe bond market steadied on a week-to-week basis with the yield on the 10-year Treasury declining 2 bps to close at 4.78% on Friday. September economic reports held no surprises on the core inflation front while industrial production was lower than expected. Nonetheless, Treasury yields, which were down early in the week, rose on Thursday in response to lower-than-anticipated first time Initial Jobless Claims coupled with better-than-anticipated New Residential Construction starts. The always exciting FOMC meets tomorrow and Wednesday. There is no real expectation that the Fed will move rates one way or the other, but every punctuation mark in the “no change” statement issued at the end of the meeting will be studied for clues as to when the Fed might lower rates. Then, in a couple of weeks the minutes of the meeting will be released and we can do it all over again. Once again, a non-event will keep the markets on edge. Download The RateWatch: A one-page analysis of institutional lending rates |