Treasuries opened higher this morning, then continued to rally following the unemployment report. More americans than forecasted filed applications for unemployment last week, signaling the labor market is struggling to recover. The Consumer Price Index, which indicates the cost of living, rose more than forecasted last month.
Everyone have a great day and the best of luck to your business.
Treasuries dropped slightly after the Producer Price Index showed wholesale costs in the US increased in July by .2%. This was after a .4% drop in June. Slowing sales and drops in the price of raw materials means companies will be less likely to raise prices, which may give the Federal Reserve more room to act to spur growth.
I just passed my California State Exam...YEAHHHH! Have a great day everyone and good luck to all of you.
Builders began work on fewer homes in July, indicating residential real estate is failing to contribute to US growth. In other economic news, industrial production climbed to .9 percent, which has sent bond prices down off their highs this morning.
Make sure to have a very good day today and good luck to all of you and your business.
Yesterday afternoon, the FOMC announced that it will keep its benchmark interest rate at record lows through mid 2013. After the announcement the stock market quickly rebounded from the previous day's huge losses and mortgage bonds rallied. Today we are higher from yesterday's close as fears over slowing economic growth is supporting Treasuries and mortgages.
Have a great day everyone, I hope you are all doing well.
The Fed will be meeting today after the unprecedented downgrade of the U.S.'s debt rating shook investor confidence in the economic recovery, and sent the DOW down over 600 points to end the day below 11000. Bonds are dropping this morning on speculation that the Fed will unveil another stimulus program.
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