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Mortgage Rates Jump to 2-Week Highs After Hotter Economic Data

Mortgage Rates Jump to 2-Week Highs After Hotter Economic Data

Surprisingly Strong Surge in Services PMI Tests The Range Perhaps fate was tempted by our persistent focus on this week's absence of big ticket market movers.  Or perhaps this is simply the biggest possible reaction to one of the week's only potential market movers coming in MUCH higher than expected.  After all, the mantra has been that nothing that happens inside a range of 4.34 to 4.50 in 10yr Treasury yields is interesting.  While that remains true in the bigger picture, today's reaction to the S&P Global Services PMI data was about as interesting as an uninteresting thing can be, causing an immediate spike from 4.42+ to 4.49+.&nbs
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