The UST10-Year yield is at 2.246% this morning after closing at 2.220% yesterday.
Following the election of Donald Trump interest rates have seen the biggest week-over-week increase since June of 2013; and it is accompanied by a drastic drop in MBA Mortgage Applications with fell by -9.20% in the week ended Nov 11th. Home refinance applications fell by 11.00% while applications for home purchases were only down 6.00%. The U.S Producer Price Index, a leading indicator of consumer price inflation, was unchanged for the month of October and PPI Ex Food and Energy declined by -0.20%.
Industrial Production, a measure of output of America's factories, power plants and mines, remained unchanged in the month of October after a decrease of 0.20% in the month prior. This was partly due to the unusually warm fall causing a reduced demand for heating according to the Fed. Capacity Utilization which gauges the slack in the industrial economy was down by 0.10% to 75.30%.
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Following the election of Donald Trump interest rates have seen the biggest week-over-week increase since June of 2013; and it is accompanied by a drastic drop in MBA Mortgage Applications with fell by -9.20% in the week ended Nov 11th. Home refinance applications fell by 11.00% while applications for home purchases were only down 6.00%. The U.S Producer Price Index, a leading indicator of consumer price inflation, was unchanged for the month of October and PPI Ex Food and Energy declined by -0.20%.
Industrial Production, a measure of output of America's factories, power plants and mines, remained unchanged in the month of October after a decrease of 0.20% in the month prior. This was partly due to the unusually warm fall causing a reduced demand for heating according to the Fed. Capacity Utilization which gauges the slack in the industrial economy was down by 0.10% to 75.30%.
The curve has bear-flattened with the UST 10-Year 2 bps up from prior closing.