Bonds are neutral, all eyes on FOMC meeting next week
14 September 2007
The bond market was neutral today. The big news was August Retail Sales showing an increase of .3%, lower than the .5% increase expectecd. This is good news for mortgage rates.
August Industrial Production also showed weaker than expected results.
However in both cases, July’s data was revised to stronger levels, which effectively neutralized any positive effects of these reports on the bond market today.
Next week all eyes are on the FOMC meeting. There is nothing important on Monday.
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