The “all other things being equal” caveat is imperative when it comes to economic data’s impact on rates.  There are certainly other factors that can supersede even the most important reports.  That said, the other things are rarely scheduled in advance unless we’re talking about monetary policy updates from the Fed or other major central banks.

So will tomorrow’s data help or hurt rates?  There’s no way to know.  If traders knew, they’d already have traded accordingly.  All we know today is that rates have held their 1+ month low for a 2nd straight day and stand a chance to get a push in one direction or the other tomorrow morning.  So this article says that there is no way of telling the future of whether the rates will go up or down.  It’s just a matter of waiting until we get there and then seeing what happens.  No fortune telling lessons here!