http://MikesDailyMarketReport.com: There's a lot of data on the Economic Calendar today, which we'll start off with the Personal Income for August, which rose 0.2%; and the Consumer Spending rose 0.8 in August. The biggie for this week is the PCE, which is the Consumer inflation data that is most heavily weighted by the Fed. The consider it's Core PCE as "real inflation". The PCE rose 0.4% in August, as it's YoY rose from 4.2% in July to 4.3%. The Core PCE (excluding food and energy) rose 0.3 in August, which it's YoY remained Unchanged at 3.6%. Manufacturing seems to be in good shape, as the ISM Manufacturing PMI rose to 61.1 in September. Lastly, Consumer Sentiment rose to 72.8 in September. Overall, decent numbers! Stocks are Up this morning; and MBS is Up 14bps too. Another day of improvement for Mortgage Rates. However, the Yields seem to be stuck north of 1.48%, which is a technical level that we'd like to break, in order to allow Mortgage Rates to continue to improve. Despite the hesitancy, MBS does seem to be outperforming it's counterpart.
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