Wholesale Inventories rose +0.3% in September with sales up only +0.2% in the month, keeping the stock-to-sales ratio in the sector unchanged at 1.19. For October, Wholesale Inventories are expected to continue the advance with a +0.2% (MoM) and wholesale Trade Sales are expected to edge up +0.1% (MoM). Treasuriesrallied yesterday as falling commodity prices, and economic slowdown concerns surrounding China and the Eurozone led some to seek safer assets; China reported a 6.7% decline in imports in November and a weaker than expected 4.7% increase in exports along with Eurozone Inflation concerns. This morning treasuries are opening in-line with yesterday’s highs and the curve is unchanged from last night’s close.
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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