Retail Sales for August posted just under expectations, up 0.20% (consensus +0.30%) with July revised up from 0.60% to 0.70%. Auto sales were up 0.70% in August, and Gas Station sales/Home Improvement Store sales were both down 1.80%. Excluding Autos and Gas, Retail Sales advanced 0.30%. Empire Manufacturing failed to rebound to consensus, at -14.67 vs. -14.92 (consensus -0.50). Industrial Production for August fell 0.40% after rising 0.90% in July. Treasuries are selling off this morning following the data release and ahead of tomorrow's FOMC rate decision. The curve has bear steepened with 2s10s up 1.5 bps.
This information is provided solely for informational use and is not intended as trading or investment advice in any manner whatsoever. Sun West Mortgage Company, Inc. is not a licensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice