Leading Economic Indicators (LEI) from the Conference Board
April’s Leading Economic Indicators (LEI) report was posted at 10:00 AM ET this morning. It showed a 0.6% decline, meaning the indicators are predicting moderately weaker economic activity over the next few months. Since analysts were expecting to see a 0.3% decline, we can consider this to be good news for bonds and mortgage rates. However, this report doesn’t carry a high level of importance in the markets, so the news was not able to erase the overnight weakness in bonds.