Posted by: cfigueira | August 13, 2010

Industry News

Industry News;

Mortgage bond prices remain slightly higher Friday morning erasing some of the losses seen Thursday afternoon. Trade is choppy with prices seesawing back and forth.

In news released at the open, retail sales rose 0.4%, slightly lower than the expected 0.5% increase traders were anticipating. On the inflation front, consumer prices rose 0.3% last month and the core value, which excludes the volatile food and energy costs, rose 0.1%. That data was near expectations.

The University of Michigan consumer sentiment report stood at 69.3, near expectations.

With no more data set for release today, traders will watch stocks to help gauge interest rate direction. At pricing the DOW was higher by 20-points. We expect trading conditions to slow to a crawl this afternoon. If stocks stage a major rebound, rates will suffer.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: