Industry News
Mortgage Industry News
Retail Sales Increase
10/14/2011
Treasury prices were lower in overnight trading and a better than expected September Retail Sales report has applied additional pressure this morning. Retails sales increased +1.1% percent vs estimates of a 0.7% gain. Additionally, last month’s posting was revised higher by 0.3%. Amongst all the recent doom and gloom, the US consumer is showing some resiliency. Later this morning, this week’s economic calendar closes out with the Univ of Michigan U.S. consumer confidence index and Aug business inventories report. Currently, the 10yr yield is at 2.248% (2.191% Thursday) and the 2-10 yield spread is at 197bps, steeper by 6 bps since yesterday morning
