China’s NBS site delivering “Server Too Busy” errors right now. Reminiscent of early crisis days when S&P servers started crashing on Case Shiller Home price release days. Anyway, consumer prices came in at +4.9% versus expectations of +5.3% and last month’s year-over-reading of 4.6%. And producer prices came in at +6.6% versus expectations of 6.4%
Food Prices
China’s NBS site delivering “Server Too Busy” errors right now. Reminiscent of early crisis days when S&P servers started crashing on Case Shiller Home price release days. Anyway, consumer prices came in at +4.9% versus expectations of +5.3% and last month’s year-over-reading of 4.6%. And producer prices came in at +6.6% versus expectations of 6.4%
Rates closed Friday 2/11 net even on the week, a nice break (despite wild daily swings) after rising .375% the week before. Rates could resume their rise this week in response to inflation reports from the U.S., China, and Great Britain. Inflation worries may cause investors to continue selling bonds, and home loan rates rise
Like most economic stats, inflation seems simple: it’s a measure of how consumer or business prices are rising in an economy. But how inflation is measured then interpreted by markets is less simple. Most inflation reports in the press—often referred to as ‘headline inflation’—are total consumer or business inflation numbers. But lots of effort goes
On Friday, a revolution and resulting chaos in Egypt caused U.S. rates (on 30yr fixed loans up to $417k) to drop .125% but Monday rates rose that amount, back to 4.875%, as mortgage bond traders re-focused on U.S. business inflation. The Chicago Purchasing Managers Index is one of many monthly manufacturing surveys done across the
After a better rate day yesterday due mostly to a well-received 30yr bond auction, rates are even today after consumer inflation, retail sales, consumer confidence, and bank earnings figures. Following yesterday’s slightly hotter than expected business inflation report, today’s consumer inflation report confirms a relatively flat inflation environment—which helps keeps rates low. December’s consumer inflation
30-year fixed mortgage rates head into Christmas at about 5% for a single family home loan up to $417,000, and about .25% higher for larger loans and most condo loans. Bond markets close at 2:00 ET today and reopen Monday. While today’s inflation report was flat, mortgage bonds sold off and pushed rates higher on
Rates are holding at the 5% range today after flat consumer inflation data and improving sentiment in the manufacturing sector. November consumer prices were up .1% versus October and 1.1% higher than November 2009. Excluding volatile oil and food costs, “Core” PPI for November was up .1% versus October and .8% higher than November 2009.
Hotter than expected November business inflation and retail sales are causing a massive 70 basis point mortgage bond selloff this morning, and rates rise when bond prices drop in a selloff. If this selloff holds, 30yr fixed rates will settle at 5%. We’ll get the Fed’s latest views on economic growth, inflation and rate policy
Consumer inflation in China increased 5.1% from November 2009 to November 2010, and business inflation increased 6.1% for the same period. Food prices were a major inflationary factor, increasing 11.7%. Below are excerpts on consumer and business inflation from China’s full report, which some say is of questionable credibility. Still, this may cause China to
Rates are up today but it’s not because of today’s tame inflation data, it’s mostly because of a weak $29b auction of 7yr notes weighing on the mortgage bond market. As for the inflation report: The Personal Consumption Expenditures Index, the Fed’s favorite measure of consumer inflation, was 0.2% in October and 1.3% year-over-year through
Rates have rebounded about .25% since rising for several days last week through Monday. Today’s US Consumer Price Index, which measures inflation at the consumer level of the economy, helped matters. It was nearly flat at 0.2% in October and 1.2% year-over-year through October. Excluding volatile oil and food costs from the readings, “Core” CPI
Rates are higher to end the week despite tame inflation readings and slightly better retail sales. The US Consumer Price Index, which measures inflation at the consumer level of the economy, was nearly flat at 0.1% in September and 1.1% year-over-year through September. Excluding volatile oil and food costs from the readings, “Core” CPI for
Rates are higher to end the week despite tame inflation readings and slightly better retail sales. The US Consumer Price Index, which measures inflation at the consumer level of the economy, was nearly flat at 0.1% in September and 1.1% year-over-year through September. Excluding volatile oil and food costs from the readings, “Core” CPI for
The US Producer Price Index, which measures inflation at the business and manufacturing levels of the economy, was .4% in September and 4% year-over-year through September. Excluding volatile oil and food costs from the readings, “Core” PPI was 0.1% in September and 1.6% year-over-year through September. The monthly number of .4% was twice expectations, causing
Rates are flat today on tame inflation data. The Personal Consumption Expenditures Index, the Fed’s favorite measure of consumer inflation, was 0.2% in August and 1.5% year-over-year through August. Excluding volatile oil and food costs from the readings, “Core” PCE price index was 0.1% for August and 1.4% YOY through August. The Fed looks closely
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