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Mortgage Industry News
Retail Sales Fall
06/14/2017
Treasury prices ticked higher overnight as investors awaited today's eventful US economic calendar. Overseas data was mixed and the US economic calendar includes data on inflation and retail sales prior to this afternoon's FOMC Meeting Announcement. The results have been softer than expected as both headline and core Retail Sales fell -0.3% vs expectations of +0.1% and +0.2% increases, respectively. Meanwhile, the May Consumer Price Index unexpectedly fell -0.1% vs forecasts of unchanged. The core report increased +0.1% but this was also below estimates of +0.2%. Treasury prices have surged in response but economists do not believe this will likely impact expectations that the Fed will announce a rate increase this afternoon. Currently, the 10yr yield is at 2.111%.
