Stock Influences
There is no relevant economic data being posted today. It is Quadruple Witching day for the stock markets, where four different types of stock options and futures expire simultaneously. It is common to see stock volatility on days this happens. Under normal circumstances, stock volatility can influence bond trading and, to some degree, mortgage pricing. However, there seems to be a disconnect right now between the traditional pattern of good days for stocks are bad days for bonds and vice versa. We are currently seeing stocks move in the same direction as bonds more often than opposite, meaning today’s Quadruple Witching may not influence bond trading or mortgage rates like it has in the past.