Daily Market Update 9/30/11

Rates moved lower Friday as a decline in the stock market boosted mortgage-backed securities.  In economic news, the Core PCE, one of the Fed’s preferred measures of inflation, rose 0.1% in August, a bit less than expected.  Personal Income fell 0.1%, below the consensus forecast for an increase of 0.1%.  The Chicago Purchasing Managers Index rose to 60.4, beating expectations.  Consumer Sentiment came in at 59.4, above forecast.  Next week, the big economic news will be Friday’s Employment Report.  No other key data will be released today.

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