The Treasury Department is really busy over the next week keeping the economy watchers on their toes.
First, we're (yes - you, me and Uncle Sam) are borrowing a record amount of money this week- something like $101 billion. Tomorrow, the Treasury Department will also announce how much additional supply it will bring to the credit markets in the form notes and bonds next week. This may raise mortgage rates a hair. Folks in the know are predicting that the Chinese (and other foreign investors) won't be buying as much from the US Treasury - making for a sluggish auction. Mortgage investors will be watching and waiting over the next 2 weeks.
Economic reports of revised first-quarter Gross Domestic Product figures and the Personal Consumption Index are also being released, followed by the Federal Open Market Committee meeting. For those that find this all interesting - hang on for a wild ride. If you find all this boring - just read the headlines in 10 days.
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