Durable Goods Orders
Tomorrow has an important economic release scheduled for 8:30 AM ET, followed by an afternoon event that has the potential to change rates slightly. March's Durable Goods Orders report is first on the day’s calendar. It gives us an indication of manufacturing sector strength and tracks orders for big-ticket items at U.S. factories. These are products that are expected to last three or more years, such as appliances, electronics and airplanes. Current forecasts show a 2.4% increase in new orders, signaling growth in the manufacturing sector. This data is known to be volatile from month to month, meaning a variance from expectations won’t affect bond trading or mortgage pricing like it would if it came in many other reports. Good news for mortgage rates would be a decline in orders.