HOME SALES GAIN, DURABLE GOODS RECOVER, FED CHITCHAT… Additional data on the housing recovery comes in this week and more progress is expected for April. Existing Home Sales are forecast to inch higher to just below a 5 million unit annual rate. New Home Sales should also continue edging up farther into 400K territory.
Wednesday’s FOMC Minutes from the Fed’s May 1 meeting will spark interest, as we see whether the discussion sheds any more light on the central bank’s view of the economy. The week ends with April Durable Goods, predicted to bounce back into positive territory, showing a healthier market for long-term purchases.
>> The Week’s Economic Indicator Calendar
Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.