Daily Market Update 9/28/15

Rates were little changed Monday as today’s inflation data matched expectations.  The August Core PCE price index, the Fed’s preferred measure of inflation, rose 0.1% and was a tame 1.3% higher than one year ago, well below the Fed’s target level of 2.0%.  Separately, the National Association of Realtors reported Pending Home Sales fell 1.4% in August, below the consensus forecast for a 0.5% increase.  Tight inventory was blamed for the decline.  Stocks moved sharply lower.  No other key data will be released today.

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