Quicken Loans Capital Markets Update for November 17, 2009
Treasuries and equities rallied while mortgages lagged yesterday. Treasuries benefited on comments from Fed Chairman Ben Bernanke which suggested interest rates will remain low for an extended period of time.
Today marks another day of important releases. The core PPI was expected to ease to +1.4%. The actual number came in at +0.7%. The market keeps a close eye on the core PPI.
With economic recovery comes concern of inflation, however, today’s decline provides some reassurance that inflation will at least start out from low levels as the new business cycle begins.
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