Archive for 'ISM' Category
Rates Down Despite Strong Economic Reports
1 May 2008Rates were down today despite two reports showing strong economic data. Rates should improve by .375 to price.
The Institute for Supply Management (ISM) showed an unchanged reading, where a drop was expected. March’s Personal Income & Outlay’s report showed declining personal income, but not as steep a decline as was expected. Both should be bad [...]
Rates Shoot Up On Strong Economic Indicator
1 April 2008Rates were up 50 bps today on a stronger than expected ISM Manufacturing Index report, which showed a rise in the index, instead of the drop which the markets expected. Stocks rallied and mortgage rates increased on this sign of economic health.
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