Updated on August 25, 2016 10:46:19 AM EDT
Yesterday’s 5-year Treasury Note auction went very well in terms of investor demand for the securities. Unfortunately, we did not see much a reaction once results were posted at 1:00 PM ET. It does allow us to be optimistic about today’s 7-year Note sale though. Results of it will also be posted at 1:00 PM ET today, so any reaction will come during early afternoon trading. If investor interest is again strong, there is a possibility of seeing bonds improve this afternoon, possibly enough to slightly improve mortgage pricing.