Posted To: MBS Commentary

Pre-Fed Paralysis Despite Some Interesting Data Retail Sales down 1.3% and last month revised up to 0.9%? Core Producer Prices rising 0.7% in a single month (versus 0.5% forecasts). How about the eye-watering year-over-year Core PPI number at 4.8%? While there was perhaps a brief reaction to the 8:30am econ data, it was small and–well, brief. Bonds spent the entire day trading almost perfectly flat. We’re left to conclude the market has taken its proverbial seat in advance of tomorrow’s Fed announcement. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Retail Sales -1.3 vs -0.8 f’cast, +0.9 prev Core Producer Prices y/y 4.8 vs 4.8 f’cast, 4.1 prev NY Fed Manufacturing 17.4 vs 23.0 f’cast, 24.3 prev Builder Confidence 81 vs 83 f’cast, 83 prev NY Fed manufacturing…(read more)

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Published On: June 15, 2021 / Categories: Mortgage News /