Blog
Consumer Prices Flat in July. Rent Pulls Down Core
The monthly Consumer Price Index failed to provide much excitement this morning as prices were unchanged in July, after advancing a startling 0.7% in June. But prices have fallen 2.1% since last year, which marks the biggest descent since 1950. Plus, July marks the 5th straight month in deflationary territory, “the longest string since 1995,†as Jennifer Lee from BMO points out.rnrnShe said the only surprise in the report was a 0.5% uptick in prices for new vehicles, which should be reversed in August.
Cautious Trading Ahead of Prices & Production Data
Equities are likely to see their fifth straight weekly gain, but the day is a busy one and surprises in the data could cause markets to jump either way. The main events today are Consumer Prices an hour before the bell, Industrial Production at 9:15, and a fresh look at Consumer Confidence at 10:00. Ahead of all those releases, markets are looking to open moderately lower, following a 0.7% gain in the benchmark S&P yesterday.
Fed Supports Mortgage Market During Settlement Process
The goal of the Federal Reserve's agency MBS program is to provide support to mortgage and housing markets and to foster improved conditions in financial markets more generally. Only fixed-rate agency MBS securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae are eligible assets for the program. The program includes, but is not limited to, 30-year, 20-year and 15-year securities of these issuers.
Latest Articles
By John Gittelsohn August 24, 2020, 4:00 AM PDT Some of the largest real estate investors are walking away from Read More...
Late-Stage Delinquencies are SurgingAug 21 2020, 11:59AM Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Read More...
Published by the Federal Reserve Bank of San FranciscoIt was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...