http://MikesDailyMarketReport.com: The Producer Price Index rose 0.2% in July; however, it's YoY remained at 1.7%. The Core PPI dropped 0.1% in July, and it's YoY dropped from 2.3% to 2.1%. The Producer Price Index provides us insight to possible inflation to the Consumer, as it's inflationary data from the Wholesale sector. This doesn't always get passed onto the Consumer, which is why it doesn't receive alot of attention. Stocks are in the Red again this morning, as it faced a volatile week (big swings up and down). Investors are still watching the US and China standoff in Trade negotiations, as China has cut purchases of Agriculture from the US; and US has been upholding US Businesses from conducting business with Huawei. Italy wants to dissolve the parliament for new elections, so Investors are a bit jittery for any Italian Bond holdings. MBS is currently down between 5-8bps. Mortgage Rates had an intra-day price change yesterday afternoon and received better pricing; so, pricing this morning is better than yesterday morning's pricing, but the same as yesterday's close. Yields are now sitting around 1.71%.
Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt
No comments:
Post a Comment