{"id":4386,"date":"2019-08-12T08:00:19","date_gmt":"2019-08-12T12:00:19","guid":{"rendered":"http:\/\/migonline.com\/blog\/?p=4386"},"modified":"2019-08-12T13:39:04","modified_gmt":"2019-08-12T17:39:04","slug":"mig-market-watch-august-5th-2019-2","status":"publish","type":"post","link":"https:\/\/migonline.com\/blog\/2019\/08\/12\/mig-market-watch-august-5th-2019-2\/","title":{"rendered":"MIG Market Watch, August 12th, 2019"},"content":{"rendered":"

MARKET COMMENT<\/strong><\/p>\n

Mortgage bond prices finished the week lower which put upward pressure on rates.\u00a0 Rates were neutral the first portion of the week but selling pressure emerged Wednesday afternoon and Thursday morning.\u00a0 Stocks were very volatile as trade tensions increased between the US and China.\u00a0 The DOW went from being down 589 points to only closing a few points lower Wednesday.\u00a0 Chicago Fed President Evans indicated he wants another 25-basis point cut this year.\u00a0 Consumer credit came in at $14.6B versus the expected $16.5B.\u00a0 The 10Y Treasury auction was weaker than average.\u00a0 The producer price index rose 0.2% and the core value, which excludes the volatile food and energy costs, fell 0.1%.<\/p>\n

Mortgage interest rates finished the week worse by approximately 1\/4 of a discount point.<\/p>\n

LOOKING AHEAD<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
Economic\u00a0Indicator<\/strong><\/td>\nRelease\u00a0Date & Time<\/strong><\/td>\nConsensus\u00a0Estimate<\/strong><\/td>\nAnalysis<\/strong><\/td>\n<\/tr>\n
Consumer Price Index<\/td>\nTuesday, Aug. 13,
\n8:30 am, et<\/td>\n		Up 0.2%,
\nCore up 0.1%<\/td>\n		Important.\u00a0 A measure of inflation at the consumer level.\u00a0Weaker figures may lead to lower rates.<\/td>\n<\/tr>\n
Weekly Jobless Claims<\/td>\nThursday, Aug. 15,
\n8:30 am, et<\/td>\n		208K<\/td>\nImportant.\u00a0 An indication of employment.\u00a0\u00a0 Higher claims may result in lower rates.<\/td>\n<\/tr>\n
Retail Sales<\/td>\nThursday, Aug. 15,
\n8:30 am, et<\/td>\n		Up 0.8%<\/td>\nImportant.\u00a0 A measure of consumer demand.\u00a0 A smaller than expected increase may lead to lower mortgage rates.<\/td>\n<\/tr>\n
Preliminary Q2 Productivity<\/td>\nThursday, Aug. 15,
\n8:30 am, et<\/td>\n		Up 0.1%<\/td>\nImportant.\u00a0 A measure of output per hour.\u00a0 Improvement may lead to lower mortgage rates.<\/td>\n<\/tr>\n
Industrial Production<\/td>\nThursday, Aug. 15,
\n9:15 am, et<\/td>\n		Up 0.4%<\/td>\nImportant.\u00a0 A measure of manufacturing sector strength.\u00a0 A lower than expected increase may lead to lower rates.<\/td>\n<\/tr>\n
Capacity Utilization<\/td>\nThursday, Aug. 15,
\n9:15 am, et<\/td>\n		77.8%<\/td>\nImportant.\u00a0 A figure above 85% is viewed as inflationary.\u00a0Weaker figure may lead to lower rates.<\/td>\n<\/tr>\n
Philadelphia Fed Survey<\/td>\nThursday, Aug. 15,
\n10:00 am, et<\/td>\n		17.8<\/td>\nModerately important.\u00a0 A survey of business conditions in the Northeast.\u00a0 Weakness may lead to lower rates.<\/td>\n<\/tr>\n
Housing Starts<\/td>\nFriday, Aug. 16,
\n8:30 am, et<\/td>\n		1255K<\/td>\nImportant.\u00a0 A measure of housing sector strength.\u00a0 Weakness may lead to lower rates.<\/td>\n<\/tr>\n
U of Michigan Consumer Sentiment<\/td>\nFriday, Aug. 16,
\n10:00 am, et<\/td>\n		98.3<\/td>\nImportant.\u00a0 An indication of consumers\u2019 willingness to spend.\u00a0 Weakness may lead to lower mortgage rates.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Productivity<\/span><\/strong><\/p>\n

Productivity is the rate at which goods or services are produced.\u00a0 It is most commonly defined in terms of labor, which is the contribution of people to the process.\u00a0 Labor costs represent about two thirds of the value of the output produced.\u00a0 The Bureau of Labor Statistics of the US Department of Labor releases the most widely cited productivity statistics quarterly and annually.\u00a0Increased productivity is often credited for economic growth with little signs of inflation.\u00a0 Productivity is significant in that as it increases, businesses can produce more with the same or less input.\u00a0 This wealth building effect is vital to the US economy.\u00a0 As productivity increases, the US economy generally performs better.\u00a0 As productivity decreases, the economy generally suffers.<\/p>\n","protected":false},"excerpt":{"rendered":"

MARKET COMMENT Mortgage bond prices finished the week lower which put upward pressure on rates.\u00a0 Rates were neutral the first portion of the week but selling pressure emerged Wednesday afternoon and Thursday morning.\u00a0 Stocks were very volatile as trade tensions increased between the US and China.\u00a0 The DOW went from being down 589 points to … Continue reading MIG Market Watch, August 12th, 2019<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":4387,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/posts\/4386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/comments?post=4386"}],"version-history":[{"count":2,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/posts\/4386\/revisions"}],"predecessor-version":[{"id":4389,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/posts\/4386\/revisions\/4389"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/media\/4387"}],"wp:attachment":[{"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/media?parent=4386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/categories?post=4386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/migonline.com\/blog\/wp-json\/wp\/v2\/tags?post=4386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}