Breaking Stories

Tuesday: Retail Sales, PPI, NY Fed Mfg, Industrial Production, Homebuilder Confidence

From Matthew Graham at Mortgage News Daily: MBS RECAP: New Week, New Sense of Urgency

The new week wasted no time in differentiating itself from the previous week as bonds sold off somewhat briskly this morning. … The bigger question of “where do we go from here” may depend on the incoming data and especially Wednesday afternoon’s Fed announcement/forecasts. Despite the early selling pressure, bonds offered some reassurance in the afternoon by holding calmly under 1.50%. [30 year fixed 3.05%]
emphasis added

Tuesday:
• At 8:30 AM ET, Retail sales for May is scheduled to be released.  The consensus is for 0.4% decrease in retail sales.

• Also at 8:30 AM, The Producer Price Index for May from the BLS. The consensus is for a 0.6% increase in PPI, and a 0.6% increase in core PPI.

• Also at 8:30 AM, The New York Fed Empire State manufacturing survey for June. The consensus is for a reading of 22.0, down from 24.3.

• At 9:15 AM, The Fed will release Industrial Production and Capacity Utilization for May. The consensus is for a 0.6% increase in Industrial Production, and for Capacity Utilization to increase to 75.1%.

• At 10:00 AM, The June NAHB homebuilder survey. The consensus is for a reading of 83, unchanged from 83 last month. Any number below 50 indicates that more builders view sales conditions as poor than good.

What is your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *