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Interest Rates Had a Boring Week, And That’s a Good Thing
Rates rocketed lower with stunning consistency starting in late February. They finally bounced last week, but rather than move back up to previous levels, they held in a relatively narrow, sideways range. That set the stage for a showdown this week.
OK, a “showdown” may be a bit dramatic, but it’s not an overstatement to say that rates were ready to embark on a new journey higher or lower, depending on the outcome of this week’s data and events.
As it happened, data and events ended up cancelling each other out, so to speak. So despite seeing some back and forth movement, average rates continued to operate in the same mostly sideways range.
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