Balance of Trade

The Balance of Trade a comparison of the value of goods and services imported and exports.  When there is a deficiency in the amount of exports, this usually signals and increase in consumption.  Increased consumption leads to inflation.  Mortgage Backed Securities [Mortgage Bonds] hate inflation.  The Balance of Trade or Merchandise Trade Balance has a MODEST impact on the mortgage market.  The Statistics are released at 8:30 [eastern] before the 15th of each month.