Full schedule of events

The markets have a full week of activity to deal with, starting with hurricane Isaac’s unknown consequence.  The bond market has $99 billion in auctions to contend with as well.

The economic calendar is full for the week between tomorrow and Friday.  However, the grand finale will come from Jackson Hole, Wyoming, with fed Chairman Ben Bernanke delivering another annual speech.  This same event introduced QE2 just 2 years ago, so the expectation will be high and the market reaction could result in knee jerk volatility.  Mortgage bonds are starting the week within a few ticks of  the range seen over the last 3 days.  Interest rates are still phenomenally low and locking is a safe choice here.