Bond Market Update
Bond Market Update
Market Update
Thursday, November 5, 2026
What's going on, and why does it matter?
Mortgage bonds are trading in positive territory after yesterday's massive stock and bond rally. Oil prices are now trading below $90 per barrel as financial markets are hopeful for a peaceful resolution to the US-Iran war. On today's economic calendar, weekly unemployment filings ticked lower. The bond market may take a wait-and-see approach today as investors get ready to digest tomorrow's always-important monthly jobs report.
What should you do about it?
It may be a good idea to lock in the gains from the recent mortgage bond rally ahead of tomorrow's jobs report.
Economic Calendar
Economic reports that may impact mortgage rates this week:
| Date | Report | Period | Prior | Est. | Actual |
|---|---|---|---|---|---|
| Mon 2 Nov | S&P Mfg. PMI | Oct | 55.9 | - | 54.9 |
| Mon 2 Nov | ISM Mfg. PMI | Oct | 54.5 | 54.6 | 55.5 |
| Mon 2 Nov | Construction Spending | Sep | 0.9% | 0.4% | -1.9% |
| Tue 3 Nov | JOLTS Job Openings | Sep | 7.079M | 7.125M | 7.523M |
| Tue 3 Nov | Factory Orders | Sep | 0.1% | 1.2% | 1.8% |
| Wed 4 Nov | ADP Employment | Oct | 90k | 65k | 86k |
| Wed 4 Nov | US Trade Deficit | Sep | -$105.6B | -$108B | -$105B |
| Wed 4 Nov | S&P Services PMI | Oct | 58.8 | - | 56.1 |
| Wed 4 Nov | ISM Services PMI | Oct | 54.9 | 54.8 | 54.5 |
| Thu 5 Nov | Initial Jobless Claims | Week ending Oct 31 | 194k | 195k | 189k |
| Fri 6 Nov | Non-Farm Payrolls | Oct | 29k | 65k | |
| Fri 6 Nov | Unemployment Rate | Oct | 4.2% | 4.2% | |
| Fri 6 Nov | Average Earnings | Oct | 0.1% | 0.3% | |
| Fri 6 Nov | U of Mich Consumer Sent. | Nov | 46.3 | 48.2 |