So far this AM
- Shanghai -1.12%, NIKKEI +0.52%, Hang Seng +2.57%, FTSE 100 currently +1.52%, CAC 40 + 1.46%, DAX 0.99% higher.
- Dollar Index weaker. Euro stronger vs. USD at 1.4697.
- Oil less expensive...
- S&P futures slowly recover from yesterday's late afternoon selloff, currently close to yesterday's new 2009 highs.
- 10yr TSY futures contract also trades higher overnight after ending yesterday near 117-04
830 Data
- CPI: +0.4% vs. consensus +0.3% and prior 0.0%
- Core CPI: +0.1% vs. consensus +0.1% and prior +0.1%
- Core CPI year over year: +1.2% (smallest YoY rise since February 2004)CPI Energy: +4.6% (Gasoline +9.1%) vs. -0.4% in July
- CPI New Vehicles: -1.3% vs. +0.5% in July (largest MoM drop since October 1972)
- CPI Food: +0.1% vs. -0.3% in July
- CPI Housing: +0.1% vs. -0.2% in July
- CPI Rent of Primary Residence: +0.0% vs. +0.0% in July
- CPI Owners' Equivalent Rent +0.1% vs. +0.0% in July
- US Real Average Weekly Earnings: -0.2% in August vs. +0.5% in July. +2.7 YoY
- Current Account -97.5bn vs. prior -31.20 billion
Following the data, the 10yr yield rose, but quickly fell back to 3.39, but failed to test morning yield lows....
The FN 4.5 fell (price) after the data, but rose higher as benchmark big brothers recovered a portion of early session gains. Currently the FN 4.5 is searching for an acceptable range. +0-07 at 100-22.
MBS Market Alerts
