Today's PPI report was expected to show an increase of +0.1% month over month. The actual number was -0.1%. On a year on year basis, PPI was expected to ease to 5.6%, down from the 1 1/2 year high of 6.0% in April. The actual number came in at 5.5%.
Treasury prices are mostly unchanged this morning as this week’s $81 billion auctions conclude. Each of this week’s auctions was met with strong demand. With the auctions behind us, investor focus returns to market data.
The number of Americans seeking a home mortgage to purchase a home or refinance an existing loan decreased 16.6% last week, according to a weekly report issued today by the Mortgage Bankers Association (MBA).