Updated on December 9, 2016 11:00:08 AM EST
Today’s only relevant economic data was Decembers preliminary reading to the University of Michigans Index of Consumer Sentiment just before 10:00 AM ET. It came in at 98.0, well above forecasts of 94.3 and a sizable increase from November’s 93.8. This means that surveyed consumers felt much better about their own financial and employment situations than many had thought. Because high levels of sentiment usually translates into stronger consumer spending, this is bad news for bonds and mortgage rates. Fortunately, the data did not draw too much attention, preventing a larger impact on today’s mortgage pricing.