Market Update – Speculation of Slowed Growth in September

Treasuries are up this morning as market participants speculate this week’s manufacturing report will show that growth slowed in September. This week’s key economic reports include Tuesday’s July S&P home price index and September’s Consumer Confidence, unemployment and GDP numbers on Thursday, along with Friday’s ISM manufacturing index.

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Market Update – Existing Home Sales Better Than Expected

The market is lower this morning compared to yesterday. There was an initial rally thanks to a worse than expected weekly initial unemployment claims report. However, that was offset by a better than expected August Existing Home Sales report. It was expected to show an increase of +7.1% to 4.1 million. The actual numbers showed an increase of +7.6% to 4.13 million.

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Market Update – Fed to Determine Expansion of Asset Purchases

Treasuries and mortgage bonds are slightly higher this morning ahead of this afternoon’s highly anticipated FOMC meeting. The consensus is that the Fed will leave the Fed Funds rate unchanged. However, there are differing opinions regarding what will be included in the Fed’s statement. The big question is whether the Fed will expand its asset purchases to futher stimulate the struggling economy.

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