Existing Home Sales from National Assoc of Realtors
Wednesday has several events that have the potential to move rates. They will start with August's Existing Home Sales report at 10:00 AM ET. The National Association of Realtors is expected to announce that the number of home resales in the U.S. slipped last month, indicating weakness in the housing sector. A softening housing sector makes broader economic growth more difficult, making bonds more appealing to investors. Therefore, bond traders would prefer to see a larger decline in sales. Since this report carries only a medium level of importance, it will take a noticeable variance from forecasts for it to cause a noticeable change rates.