Apart from Tuesday (CPI day), today is this week’s next biggest deal in terms of scheduled economic data.  The trifecta included Jobless Claims, PPI, and Retail Sales.  Of these, Retail Sales has been the bigger market mover on average, but by a smaller margin in recent months.  Today’s example missed the consensus, but not by much.  It was also more than offset by unfriendly results in the other two reports.  Core PPI fell to 0.3 from 0.5, but that was higher than expected.  Jobless Claims didn’t help with continued claims moving well under the 1.9m ceiling and with a big downward revision to last week’s 1.906m reading (now 1.794m).  With that, we find ourselves at the end of a CPI/PPI week with yields pushing up toward 4.30% yet again.

Published On: March 14, 2024 / Categories: Mortgage News /