Durable Goods Orders Down; Mortgage Rates Drop
27 June 2007
Bonds opened up today following weaker than expected manufacturing data.ﾃつ ﾃつ Rates should improve today by .125 of a point.
The Commerce Department reported today that Durable Goods Orders fell 2.8% in May, triple the expected number.
This suggests a slowdown in the manufacturing sector and is puts inflation concerns at ease.ﾃつ
The Fed meeting starts today, and it is expected that Fed Chairman Ben Bernanke will not change interest rates.ﾃつ It is the post meeting remarks on the state of the economy and inflation that could cause market volatility.ﾃつ ﾃつ ﾃつ It will take some significant news for the 10 year treasury to break through 5.0%, so it is more likely that post meeting comments could cause rates to rise rather than to drop further.
Sphere: Related Content
No comments yet