Daily Market Update 9/28/12

Rates stabilized Friday as mortgage-backed securities recovered most of yesterday’s losses.  Investors remain primarily focused on events in Europe.  In economic news, the August Core PCE price index, the Fed’s preferred measure of inflation, rose 0.1%, matching expectations.  Personal Income increased 0.1%, in line with forecast.  The Chicago Purchasing Managers Index fell unexpectedly to 49.7.  Readings below 50.0 indicate contraction in the manufacturing sector.  Consumer Sentiment came in at 78.3, slightly below forecast.  Next week’s key data include Monday’s release of the Institute for Supply Management manufacturing index, minutes from the September Fed meeting on Thursday, and the two most closely watched reports of the month, Non-farm Payrolls and the Unemployment Rate, on Friday.  No other key data will be released today.

Leave a Reply

Your email address will not be published.

Back to top