MBS Update: Core PCE in Line With Expectations. Minimal Reaction

Patrick Smith

Executive / Management / Banker

Integrated Funding

P: (919) 847-2766

4098 Barrett Dr
Raleigh NC 27609

License:

67369

Ask Me a Question

MBS Morning:

MBS Recap:

MBS Alert:

MBS Update:

MBS Huddle:

Core PCE in Line With Expectations. Minimal Reaction

Fri, Aug 30 2024, 8:34 AM

M/M Core PCE
- 0.2 vs 0.2 f'cast, 0.2 prev
Y/Y Core PCE
- 2.6 vs 2.7 f'cast

Don't look now, but inflation is getting to be "boring" with the past 4 reports calmly playing ball at levels consistent with hitting the 2 percent annual target (today's annual number is only higher due to "base effects" --i.e. higher inflation months in the 12 month calculation).

MBS and Treasuries were flat heading into the data and they're flat on the other side now. 5.0 UMBS are down 1 tick (.03) at 99.5 and 10yr yields are up .6bps at 3.867

More MBS and Treasury Markets

MBS Recap:

Month-End Volatility, But No Bearing on Bigger Picture - Fri, 8:31 PM

MBS Alert:

Down an Eighth From Highs - Fri, 4:20 PM

MBS Morning:

PCE Inflation Offers No Objections to 25bp Cut - Fri, 1:14 PM

MBS Recap:

A Clear Reaction to Data Without Any Major Drama - Thu, 9:00 PM

MBS Update:

MBS at Weakest Levels, Underperforming - Thu, 7:43 PM

Patrick Smith

Executive / Management / Banker

Integrated Funding

P: (919) 847-2766

4098 Barrett Dr
Raleigh NC 27609

License:

67369

Ask Me a Question

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Reproduction or redistribution this newsletter, outside of the distribution services provided, is prohibited. Interest rate data provided in this newsletter are national averages. Rate/APR terms may differ. All information provided "as is" for informational purposes only.