Total September Exports of $195.6 billion (-$3 billion MoM) and Imports of $238.6 billion (+0.1 billion MoM) resulted in a goods and services deficit of $43.0 billion, up from $40.0 billion in August. The goods deficit increased +$2.4 billion in August to $62.7 billion, and the services surplus decreased -$0.6 billion to $19.6 billion. Factory orders fell -10.1% in August, following a +10.5% jump in July, and expectations for September are for a slight dip of -0.6%. The curve has bull flattened with 2s10s down -1.8 bps.
GNMA Issuer Fannie Mae and Freddie Mac Direct Lender Licensed throughout the U.S. and Puerto Rico Privately Held Mortgage Bank for Over 32 Years Excellent Underwriting / Funding Turn Times
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